December 31, 2009 and 2008

Transcription

1 Consolidated financial statements and Auditor s opinion Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries December 31, 2009 and 2008 (Translation of the auditor s opinion and financial statements originally issued in Spanish)

2 Grupo Financiero Interacciones, S.A. de C.V. and subsidiaries Audited financial statements December 31, 2009 and 2008 Table of contents Pages Independent auditor s opinion 1 to 3 Consolidated balance sheets 4 and 5 Consolidated statements of income 6 and 7 Consolidated statements of changes in stockholder s equity 8 and 9 Consolidated statement of cash flows 10 and 11 Consolidated statement of changes in financial position 12 and 13 Notes to the consolidated financial statements 14 to 116

3 1 Independent auditor s opinion (Translation of the auditor s opinion originally issued in Spanish) (See note 1 to the financial statements) To the Stockholders of Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries: We have audited the consolidated balance sheets of Grupo Financiero Interacciones, S.A. de C.V. (the Group) and subsidiaries as of December 31, 2009 and 2008, their respective memorandum accounts and the related consolidated statements of income, and changes in stockholders equity, for the years then ended, as well as the statements of cash flows and changes in financial position for the years ended December 31, 2009 and 2008, respectively. These financial statements are the responsibility of the Group s Management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards in Mexico. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, and are prepared in accordance with the accounting criteria discussed in the following paragraph. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; an audit also includes assessing the accounting criteria used and significant estimates made by management, as well as evaluating the overall financial statements presentation. We believe that our audits provide a reasonable basis for our opinion. a) As discussed in note 4b), the accompanying consolidated financial statements are prepared based on the accounting criteria for Holding Companies of Financial Groups, issued by the National Banking and Securities Commission (NBSC). These accounting criteria set forth valuation, recording, and presentation rules for specific captions of the financial statements in order to homogenize the banking practices with financial reporting standards applicable in México. Likewise, note 4c), discusses the principal differences between the accounting criteria referred to above and financial reporting standards applicable in Mexico. b) As explained in note 4 f) to the accompanying consolidated financial statements, on January 1, 2008, Financial Reporting Standard B-10 Inflation effects became effective, and since accumulated inflation of the three prior fiscal years is less than 26%, inflation restatement of the financial statements at December 31, 2008 has not been recognized.

4 2 c) As discussed in Note 4 e) to the accompanying consolidated financial statements, on May 29, 2009, accounting criterion D-4 "Cash flow statement", of prospective application became effective and replaces D-4 "Statement of Changes in Financial Position", in effect up to May 28, 2009; consequently, the statement of cash flows and statement of changes in financial position are not presented comparatively. d) As discussed in Note 4 paragraphs b), j) and k) and Notes 7 and 8 to the accompanying consolidated financial statements, effective October 14, 2008, a payable is recognized in repurchase transactions, which represents the obligation of restoring the security traded or the related collateral, pursuant to the amendments made by the NBSC to Bulletin B-3 Repurchase transactions and Bulletin B-4 Securities lending. Likewise, a premium agreed upon as a credit or deferred charge is recognized as the case may be. The security delivered, as well as collaterals furnished are presented as restricted according to the type of financial asset involved. The security received, as well as the collateral received are both presented as memorandum accounts. The valuation of the payable is presented in the caption of gain or loss on fair value valuation. Up to October 13, 2008, a lending and a borrowing part were recognized in repurchase transactions, in the amount applicable to the agreed upon price of the transaction, without considering the premium. The lending part represented the right to receive the securities subject matter of the repurchase agreement, whereas the borrowing part represented the future commitment to repurchase those securities at an initial price plus the premium. During fiscal 2009 and 2008, the Institution did not carry out any securities lending trading. e) As discussed in Note 4 b) and Note 7) to the accompanying consolidated financial statements, the NBSC, with a value date as of October 1, 2008 authorized on this occasion only, that Credit Institutions and Brokerage Firms may only reclassify investments in securities maintained in the category of trading securities to available-for-sale securities or held-to-maturity securities, at the last carrying value recognized in the balance sheet at the time of reclassification. The gain or loss on valuation that would have been recognized in income at the date of reclassification will not be subject to any reversal. Moreover, debt securities may be reclassified from the available-for-sale category to the held-to-maturity category. The gain or loss previously recognized in stockholders equity in the valuation at fair value of certain securities should be maintained in the caption of gain or loss on valuation of available-for-sale securities and amortized in income of the period based on the remaining life of the security. Pursuant to the foregoing and as a result of the reclassifications made by Bank and Brokerage Firm the mutual fund of securities from the category of trading securities to the category of available-for-sale and held-to-maturity during the period extending from October 1 to December 31, 2008, a gain and a (loss) were no longer recognized in the amounts of $17,778 thousand and $(81,683) thousand, respectively, for the gain or loss on valuation. The effect of the securities reclassified to available-for-sale during that period was recognized in stockholders equity and is presented in the consolidated statement of changes in stockholders equity as part of the gain or loss on valuation of available-for-sale securities.

5 3 In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Grupo Financiero Interacciones, S.A. de C.V. and subsidiaries as of December 31, 2009 and 2008, their respective memorandum accounts, the results of their operations and changes in stockholders equity, for the years then ended, as well as the statements of cash flows and changes in financial position for the years ended December 31, 2009 and 2008, respectively, in conformity with the accounting criteria for Holding Companies of Financial Groups set forth by the National Banking and Securities Commission. SALLES, SAINZ GRANT THORNTON, S.C. C.P.C. Alberto E. Hernandez Cisneros Mexico, City. Mexico March 4, 2010, except for the derivative swap operations discussed in Note 9 of the accompanying consolidated financial statements, as to which the date date is May 24, 2010.

6 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 14 Notes to the consolidated financial statements December 31, 2009 and 2008 (Stated in millions of Pesos) 1. Method of presentation and translation into English The accompanying consolidated financial statements were originally issued in Spanish for their use in Mexico. They have been translated into English for convenience of users in certain other countries. As indicated in note 4 below, these consolidated financial statements have been prepared in accordance with the accounting criteria prescribed by the National Banking and Securities Commission (NBSC) in Mexico. These accounting criteria differ in certain respects from financial reporting standards applicable in Mexico and in other countries. 2. Incorporation and nature of the Business: Grupo Financiero Interacciones, S.A. de C.V. (The Group) was incorporated on October 28, 1992 and commenced operations in December of the same year. Its corporate purpose is to act as a holding company of stock of the subsidiaries mentioned in note 3, and to carry out all types of financial operations related to the purchase-sale and holding of stock. Group s activities are regulated by the Law to Regulate Financial Groups (LRFG), and circulars issued by the NBSC. The Group was authorized to operate as a Financial Group by official announcement number 1588 issued by the Ministry of Finance and Public Credit on October 15, In accordance with the provisions of Article 28 of the LRFG, the Group signed a Sole Liability Agreement which sets forth certain commitments and obligations that the Group must assume regarding to its subsidiaries, consisting basically in responding in a secondarily an unlimited way for the obligations and losses of its subsidiaries, up to the amount of its equity. The Holding company has no employees.

7 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Delivery date and Basis of consolidation: The accompanying financial statements were authorized by the Board of Directors to be issued on March 4, 2010, under the responsibility of Carlos Hank Gonzalez, General Director, Alejandro Frigolet Vazquez Vela, Administration and Finance Executive Officer; Juan Castillo Delgado, Corporate Director of Internal Audit, and Adan Moreno Estevanes, CPA, Financial Accounting Director. Consequently, they do not reflect the events that occurred subsequent to that date. In conformity with the regulatory provisions of the NBSC, the financial statements as of December 31, 2009 and 2008 of Grupo Financiero Interacciones, S.A. de C.V. (the Company o the Group) are consolidated with the financial statements of its subsidiaries, belonging to the financial sector, except those of Aseguradora Interacciones, S.A. de C.V. The equity held by the Group in its subsidiaries, and the most relevant condensed information of each one of them, is shown below: 2009 % of Total Total Operating Net income (loss) for Subsidiaries Equity assets liabilities Equity income the year Consolidated- Banco Interacciones, S.A % $ 67,099 $ 63,908 $ 3,191 $ 1,878 $ 798 Interacciones Casa de Bolsa, S.A. de C.V % 20,245 19, Unconsolidated- Aseguradora Interacciones, S.A % 4,285 3, ,547 2 Servicios Corporativos Interacciones, S.A. de C.V % (1) - (1) 2008 % of Total Total Operating Net income (loss) for Subsidiaries Equity Assets liabilities Equity income the year Consolidated- Banco Interacciones, S.A % $ 56,799 $ 54,486 $ 2,313 $ 1,745 $ 528 Interacciones Casa de Bolsa, S.A. de C.V % 10,622 9, Unconsolidated- Aseguradora Interacciones, S.A % 3,598 3, , Servicios Corporativos Interacciones, S.A. de C.V %

8 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 16 The financial statements of the Group and its subsidiaries have been prepared at the same date and for the same period. Such consolidated financial statements reflect the operating results of subsidiaries since their acquisition date and up to the year-end being reported. All significant intercompany balances and transactions have been eliminated in the consolidation. Pursuant to the provisions set forth by the NBSC, the financial statements of Aseguradora Interacciones, S.A. (the Aseguradora) this is regulated by the National Insurance and Bonding Company Commission (CNSF), may not be consolidated, even though the Company holds the control thereof. The related investment is valued by using the equity method. At a General Extraordinary Stockholders Meeting of Aseguradora Interacciones, S. A., Grupo Financiero Interacciones held on August 1, 2008, the stockholders approved the change of corporate form of the company to a variable capital regime. Accordingly, as of that date, the corporate name is as follows: Aseguradora Interacciones, S.A. de C.V., Grupo Financiero Interacciones. At the issue date of the independent auditor s opinion on the financial information as of December 31, 2009 and 2008, there has been no answer from the authority. At a General Extraordinary Stockholders Meeting of Aseguradora Interacciones, S. A., held on December 24, 2009, the stockholders agreed to increase the capital stock in the amount of $48, contributed by Grupo Financiero Interacciones, S. A. de C. V. in the following terms: Minimum fixed capital stock increase without right of reimbursement amounting to $2. This was set in the amount of $82 which is fully subscribed and paid, and it is represented by 82,000,000 nominative and ordinary shares with a par value of $1.00 each one, applicable to series A. Variable capital stock increase with right of reimbursement amounting to $46. This was set in the amount of $80 which is fully subscribed and paid, and it is represented by 80,148,175 nominative and ordinary shares with a par value of $1.00 each one, applicable to series B. Pursuant to a written request dated October 2, 2008, the Insurance Company petioned the Ministry of Finance and Public Credit to approve the change of corporate form to variable capital (de C.V.). At the issue date of the independent auditor s opinion on the financial information as of December 31, 2009, there has been no answer from the authority. Pursuant to a written request dated April 4, 2008, the Company petitioned the Ministry of Finance and Public Credit, Undersecretary of Finance and Public Credit, Unit of Insurance, Pensions, and Social Security for authorization to incorporate an insurance company denominated Interseguros, S.A. de C.V., in accordance with Chapter I of Title One of the General Law of Insurance and Mutual Companies to practice and strengthen its market share on the Mexican insurance business, contemplating Accident and Sickness Operations in the following areas: Personal Accidents and Major Medical Expenses, and Damages in the following areas: Civil Liability and Professional Risks, Maritime and Transportation, Fire, Automobile, Miscellaneous, Earthquake, and other catastrophic risks. Moreover, pursuant to a written request dated September 10, 2008, the Company petitioned the Ministry of Finance and Public Credit, Undersecretary of Finance and Public Credit, Unit of Insurance,

9 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 17 Pensions, and Social Security for another authorization to incorporate an insurance company denominated Interseguros Vida, S.A. de C.V., in accordance with Chapter I of Title One of the General Law of Insurance and Mutual Companies to practice and strengthen its market share on the Mexican insurance business, contemplating life insurance. On July 31, 2008, the stockholders resolved to decrease the historical capital stock of the Aseguradora Interacciones by redeeming 10,000,000 shares. The decrease was carried out through a reimbursement to the stockholders in the amount of $15.96 per share ($160). The Group made contributions from this reimbursement for future capital increases to the Bank in the amount of $38. It was further resolved to increase the Aseguradora Interacciones capital stock in the amount of $74. On April 3, 2008, the Institution reimbursed its stockholders in the amount of $5, thereby reducing contributions for future capital increases. These changes were approved by the stockholders at the General Extraordinary Stockholders Meeting of both subsidiaries. Pursuant to official communication C S0036/ 09 dated June 8, 2009, the National Insurance and Surety Bond Commission, pursuant to Article 35, subsection XV of the General Law of Mutual Insurance Companies and Circular S-15.1 dated June 26, 2007, Aseguradora Interacciones is authorized to sell the real property located in Puebla, Puebla in the amount of $8. The amount of $7 was written off on this sale due to the effect of inflation restatement already recorded in prior year income. 4. Significant accounting policies: a) Financial reporting standards: The Mexican Board for Research and Development of Financial Reporting Standards (CINIF for its Acronym in Spanish) is the agency responsible for issuing in Mexico, the Financial Reporting Standards (NIF for its Acronym in Spanish) ( FRS ). The NIF is comprised of the following: a) Financial Reporting Standards and its interpretations (INIF), b) Accounting Principles Bulletins issued by the IMCP that have not been modified, replaced or repealed by the FRS c) by the International Standards Financial Reporting (IFRS) which are applicable supplementary. At 2008 year-end, the National Banking and Securities Commission (NBSC) issued a press release that reports the adoption process of IFRS for securities issuers in Mexico, which sets forth the possibility that issuers can adopt these standards early for fiscal years 2008, 2009, 2010, and 2011, provided that such issuers wish to do so and meet the requirements set forth by the NBSC. This way, the NBSC will make the necessary regulatory amendments that will set forth the requirement that issuers prepare and disclose their financial information based on IFRS, effective fiscal Accordingly, the Company and its subsidiaries did not make an early adoption of IFRS. b) Accounting framework applied- The accompanying consolidated financial statements are prepared in conformity with the applicable General accounting provisions to which Holding Companies of Financial Groups are subject to, subject to supervision by the NBSC (the Provisions). In the absence of a regulating provision (accounting rules issued by the NBSC in particular, financial reporting standards applicable in Mexico (FRS), in general), the provisions of International Accounting

10 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 18 Standards issued by the International Accounting Standards Committee (IASC) are applied, as well as the definite accounting principles issued by the Financial Accounting Standards Board (FASB). On May 28, 2009, the Resolution which amends the General Provisions applicable to Holding Companies of Financial Groups subject to the NBSC became effective, in connection with the updating of accounting criteria applicable to Holding Companies of Financial Groups, in order to be consistent with international accounting framework that allow for having transparent financial reporting comparable with other countries. The accounting criteria issued that apply to the Company are discussed in detail below: The following accounting criteria were added: A-3 Application of general standards added to Series A. Criteria relative to the general accounting scheme for holding companies of financial groups. The current A-3 Suppletory application to accounting criteria becomes A-4 Suppletory application to accounting criteria. B- 3 Repurchase transactions. C-1 Recognition and retirement of financial assets, C-4 Consolidation of specific purpose entities added to Series C. Criteria applicable to specific items, thereby substituting the current criteria. C-1 Related parties and C-2 Segment information to become C-2 Related parties and C-3 Segment information. The accounting criteria currently in effect are substituted by the following criteria: A-1 Basic scheme of the set of accounting criteria applicable to holding companies of financial groups ; A-2 Application of particular standards ; A-4 Suppletory application to accounting criteria ; B-1 Liquid assets, B-2 Investments in securities, C-2 Related party, C-3 Segment information ; D-1 balance sheet, D-2 Statement of income, D-3 Statement of changes in stockholders' equity D-4 Statement of cash flows The application of these new pronouncements in connection with recognition, valuation, presentation, and disclosure in 2009 is described in Notes 4, summary of accounting policies. On April 28, 2009, the 15th Resolution which amends the General Provisions applicable to Lending Institutions became effective, in connection with the updating of accounting criteria applicable to lending institutions, in order to be consistent with international accounting standards that allow for having transparent financial reporting comparable with other countries. The accounting criteria issued that apply to the Institution are discussed in detail below:

11 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 19 The following accounting criteria were added: A-3 Application of general standards added to Series A. Criteria relative to the general accounting scheme for ending institutions. The current A-3 Suppletory application to accounting criteria becomes A-4 Suppletory application to accounting criteria. The accounting criteria currently in effect are substituted by the following criteria: A-1 Basic scheme of the set of accounting criteria applicable to lending institutions ; A-2 Application of particular standards, B-1 Liquid assets, B-2 Investments in securities B-3 Repurchase transactions, B-4 Securities lending, B-5 Derivatives and hedging transactions, B-6 Loan portfolio, B-7 Assets acquired through judicial proceedings, B-8 Guarantees by endorsement, B-9 Asset custody and management, B-10 Trusts, B-11 Collection rights, C-1 Recognition and disposition of financial assets, C-2 Securitization transactions, C-3 Related parties, C-4 Segment information C-5 Consolidation of specific purpose entities D-1 Balance sheet, D-2 Statement of income, D-3 Statement of changes in stockholders equity D-4 Statement of cash flows On October 29, 2009, the 20th Amending Resolution to the Single Circular for Banks became effective. On December 30, 2009, an amending resolution to the Single Circular for Brokerage Firms went into effect, which substitutes accounting criterion B-2 Investments in securities which incorporates an optional treatment for reclassifications between categories of investments in securities, upon authorization by the National Banking and Securities Commission. On April 30, 2009, various amending resolutions to the General Provisions were published that apply to Brokerage Firms, which are intended to incorporate the expansion of the guidelines for the identification of events into accounting criteria for brokerage firms that provide objective evidence of the impairment of securities, their presentation, and disclosure, as well as the confirmation of the treatment of repurchase transactions and securities lending, in order to achieve greater adherence to and consistence with international accounting framework.

12 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 20 Effective September 19, 2008, the 12th amending resolution to the Single Circular contemplates the development of three accounting criteria relative to the subject matters of C-1 recognition and disposition of financial assets, C-2 securitization operations, and the addition of criterion C-5 Consolidation of specific purpose entities. Effective October 14, 2008, the 13th amending resolution to the Single Circular contemplates the following changes in accounting criteria: 1) allow accounting records of repurchase transactions and securities lending carried out on securities recorded in the captions of available-for-sale securities and held-to-maturity securities. The Single Circular further sets forth the accounting rules in criteria B-3 and B-4, including that related to the preparation of financial information by amending accounting criteria C-1, D-1, D-2, D-4, and 2) accordingly, expand the amount and type of securities available on the market. See Notes 4j), 7 and 8 below. During 2009 and 2008, the Institution did not carry out any securities lending transactions. Various amending resolutions to the General Provisions applicable to Brokerage Firms were published on August 11, September 19, and October 23, The amending resolution published on October 23, 2008 is intended to change the accounting treatment given to securities under repurchase transactions and securities lending transactions, in order to allow accounting for securities under repurchase and securities lending transactions carried out with securities recorded in the captions of securities Available-for-sale and Held-to-maturity. Accordingly, that amending resolution sets forth the accounting rules, including those related to the preparation of financial information that makes application of that accounting criterion consistent with international accounting standards. Refer to Notes 4j) and 4k) below. c) Principal differences with financial reporting standards applicable in Mexico - Some accounting practices set forth by the NBSC differ from financial reporting standards applicable in Mexico. The major differences include: recognizing in the stockholders equity the effect derived from valuating available-for-sale securities, valuating and recording subordinated debentures of mandatory conversion to equity; non consolidation of investments of subsidiaries that do not belong to the financial system, the short and long-term classification, as well as not presenting employee profit sharing in the line item of other expenses. As well as not adopting the financial reporting standard B-2 statement of cash flows, in effective January 1, 2008, applied prospectively, which substitutes Bulletin B-12 Statement of Changes in Financial position in effect up to December 31, These last two standards are in effect for holding companies of financial groups as of May 29, d) Statements of income- In accordance with the updates of criterion D-2 Statement of income of the Resolution that amends the general provisions applicable to holding companies of financial groups referred to in Note 4b) above, effective May 29, 2009, income not included in other items of the statement of income, neither form part of administrative and promotional expenses should be considered as other operating income (loss); among others: a) donations; b) impairment loss or effect of the reversal of impairment of real property, goodwill, and other long-lived assets in use or available for sale, and other assets, as well as the gain or loss on monetary position, and on changes generated by items not related to net interest income of entities, in the case of an inflationary environment. In accordance with the updates of criterion D-2 Statement of income of the Single Circular referred to in Note 5 1) above, effective April 28, 2009, income not included in other items of the statement of income, neither form part of administrative and promotional expenses should be considered as other

13 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 21 operating income (loss), among others: a) recoveries of loan portfolios; b) gain or loss on the acquisition or assignment of portfolios; c) donations; d) impairment loss or effect of impairment reversals of property, goodwill, other long-lived assets in use or available for sale, and other assets; e) dividends from other permanent investments and investments in associates available for sale; and f) the loss on assets acquired through judicial proceedings, the gain or loss on the valuation of assets acquired through judicial proceedings, the gain or loss on assets acquired through judicial proceedings, as well as the estimate for the loss of value of assets acquired through judicial proceedings, and the gain or loss on monetary position and foreign exchange position generated by items not related to net interest income of entities, in the case of an inflationary environment. e) Statement of cash flows - Effective May 29, 2009, accounting criterion D-4 Statement of cash flows of prospective application replaces D-4 Statement of Changes in Financial Position, in effect up to May 28, Accordingly, the statement of cash flows and statement of changes in financial position are not presented comparatively. The main changes shown in of D-4 accounting criteria are the following: The statement of cash flows shows cash receipts and disbursements that occurred in the Entity during the period, whereas the statement of changes in financial position only shows the changes in financial structure; Even though in an inflationary environment, both the statement of changes in financial position and statement of cash flows would be presented in constant pesos, in the process of preparation of the statement of cash flows, the effect of the reporting period s inflation are eliminated first, and cash flows should be determined in constant pesos based thereon. The effects of the reporting period s inflation are not eliminated in the determination of the statement of changes in financial position. The statement of cash flows presents cash flows based on their nature either in operating activities, investing activities, or financing activities, according with their economic substance, and not how they were used to carry them out. The statement of changes in financial position required operating to be presented first, then followed by financing activities, and finally by investing activities. The statement of cash flows is presented by the indirect method, whereby net income for the period is increased or decreased by the effects of transactions of items that do not imply a cash flow (except for those that affect the balances of operating items), changes that occur in the balances of operating items, and for cash flows associated with investing or financing activities. f) Recognition of the impact of inflation- As of January 1, 2008 the impact of inflation of the period was disconnected. Annual inflation of 2009, 2008 and 2007 was %, %, and %, respectively, therefore, accumulated of the three prior years was %.

14 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 22 g) Securities and cash from clients received in custody -Memorandum account- Securities in custody owned by third-parties are controlled in units, and are valued daily at their fair value for their presentation in the balance sheet. These securities are deposited in the Institute for the Security Deposit (S.D. Indeval, S.A. de C.V.). The fair value of securities is obtained by using valuation restated prices, provided by the pricing expert. This pricing expert is approved by the Board of Directors of the Company and recognized by the NBSC. The securities referred to above are recorded in memorandum accounts and they are deposited in S.D. Indeval in the name of Interacciones Casa de Bolsa, S. A. de C.V. (the Casa de Bolsa) on behalf of third-parties. Cash received from clients is deposited in various third party credit institutions checking accounts of the Casa de Bolsa. h) Owned securities in custody and pledged -memorandum account - Securities owned by Interacciones Casa de Bolsa granted in custody and guarantee, which are separately presented in the balance sheet as part of securities, are also recorded in memorandum accounts, under the caption of Entity s securities delivered in custody and guarantee. The valuation methods and custodian of the securities are the same as those discussed in the foregoing paragraph. They are recorded in the name of Interacciones Casa de Bolsa, S. A. de C.V. for its own account. i) Foreign currency transactions- Foreign currency transactions are recorded at the exchange rate of the date on which they are carried out or paid. Furthermore, foreign currency assets and liabilities are valued at the FIX exchange rate published by the Mexican Central Bank at year-end. The resulting exchange gain or loss is applied or charged to income of the year. j) Investments in Securities - Trading securities- These are securities acquired with the intent of selling them and obtaining gains from price differences resulting from short-term trading operations with such securities carried out by market participants. They are valued at fair value and their effect will be recognized in income of the year. At the time they are sold, that effect is reclassified as part of the gain or loss on trading. Available-for-sale securities- These are debt securities and net equity instruments which intent is not for the purpose of obtaining gains from price differences resulting from short-term trading operations. Further, there is neither any intent nor capacity to hold debt securities to their maturity, therefore, they represent a residual category, that is, their purpose is other than trading or held-to-maturity securities, respectively. They are valued at fair value and the gain or loss thereof will be recognized in other items of comprehensive income within stockholders equity as referred to in Bulletin B-4 Comprehensive income of FRS. At the time they are sold, the gain or loss is reclassified as part of the gain or loss on trading. Held-to-maturity securities- These are debt securities which payments are set or predicted with a fixed maturity date (which means that the amounts and dates of payments to the holding Institution are defined in a contract). The Institution has

15 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 23 both the intent and capacity to hold those securities to their maturity. A security is not classified as held-tomaturity if the Institution has sold or reclassified a security with similar characteristics during the current year or during the two prior years, except for those sales or reclassifications that: a) are made within 28 calendar days prior to their maturity, or otherwise, from the date of the repurchase option of the security by the issuer; or b) occur after the Institution accrued or, otherwise, collected more than 85% of their original value in nominal terms. Held-to-maturity securities are valued at their amortized cost, which implies that the amortization of the premium or discount (included in the fair value, if applicable, at which they are recognized initially), as well as the transaction costs form part of the accrued interest. At the time they are acquired, investments in securities are initially recognized at their fair value (which includes the discount or surcharge, if applicable). Transaction costs for the acquisition of securities are recognized depending upon their category: a) trading securities are recognized in income of the year on the date of acquisition; and b) available-for-sale securities and held-to-maturity securities are recognized initially as part of the investment. Interest accrued of debt securities is determined in accordance with the effective interest method and it is recognized in the applicable classification in the caption of investments in securities against income of the year (even in the case of available-for-sale securities). At the time accrued interest is collected, the caption of investments in securities is reduced against the caption of liquid assets. Categories of securities are not reclassified except when reclassified from held-to-maturity to availablefor-sale, provided that there is no intent to hold them to maturity. The gain or loss on valuation applicable to the reclassification date, in the event that the reclassification described in the foregoing paragraph is carried out, it is recognized in other items of comprehensive income within stockholders equity. At the time the 20th Amending Resolution of the Single Circular discussed in Note 4 paragraph b) becomes effective, an optional treatment for reclassifications between classifications of investments in securities was incorporated into accounting treatment B-2, upon authorization by the NBSC. Pursuant to official communication number /2008 dated October 16, 2008, the NBSC permits lending institutions to revalue the intent in connection with their holdings of investments in securities, and announces the following: Lending institutions may reclassify investments in securities that were maintained in the category of trading securities to category of available-for-sale securities or to the category of held-to-maturity securities, at the last carrying value recognized in the balance sheet at the time when reclassified. For such purposes, the gain or loss on valuation that would have been recognized in income at the date of reclassification will not be subject to any reversal.

16 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 24 Lending institutions may reclassify debt securities from the category of trading securities to the category of held-to-maturity securities, at the last carrying value recognized in the balance sheet at the time when reclassified. The gain or loss previously recognized in stockholders equity in the valuation at fair value of certain securities should be maintained in the caption of gain or loss on valuation of available-for-sale securities and amortized in income of the period based on the remaining life of the security. That special accounting criterion was applied only once with a date value as of October 1, Consequently the reclassification of securities was maintained up to December 31, 2008, and up to December 31, 2009, except for those that were classified at 2009 year end, due to the reassessment performed by the Institution s Management, in connection with the intent that it has on each one of the securities that comprise its securities investment portfolio. k) Repurchase agreement transactions- Certain debt instruments are transferred on a temporary basis in exchange for a premium equivalent to the interest rate originally stipulated through repurchase agreements transactions. The premium interest is recognized as income or expense as accrued. In accordance with the amendments to Criterion B-3 Repurchase transactions of the Single Circular of Banks referred to in Note 4 b) above, effective October 14, 2008, the receivable or payable that represents the right or obligation to receive or refund the cash, as the case may be, as well as interest accrued are presented in the balance sheet in receivables under repurchase agreements or payables under repurchase agreements, as the case may be. Financial assets classified as collateral delivered by the Institution as the seller is presented as restricted in accordance with the type of financial assets involved, whereas it is presented in memorandum accounts as the buyer in the caption of collateral received. At the time of the addition of criterion B-3 Repurchase Transactions of the General Provisions in connection with accounting and valuation, applicable to holding companies of financial groups referred to in Note 4 b) above became effective on May 29, 2009; memorandum accounts recognized as collateral received acting as the buyer, and that have been sold or pledged, should be cancelled when the Bank acquires the collateral sold to return it to the seller, or the second transaction in which the collateral pledged reaches its maturity or there is counterparty noncompliance. That collateral is presented in memorandum accounts in the caption of collateral received and sold or pledged by the entity. Acting as a seller- A cash receipt or a receivable clearing account collateral delivered is recognized as well as a payable at its fair value. The agreed upon price initially represents the obligation to refund the cash to the buyer. The fair value of the payable is represented by the initially agreed upon price and the recognition of the interest on the repurchase agreement (accrued Premium), in accordance with the effective interest method. Acting as buyer- The cash disbursement or payable clearing account collateral received is recognized as well as a receivable at fair value, which represents the right to recover the cash delivered to the seller. Over the life of the repurchase transaction, the receivable referred to is valued at its amortized cost through recognition

17 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 25 of interest on the repurchase transaction in income of the year as accrued, in accordance with the effective interest method, affecting such account receivable. Up to October 13, 2008, in conformity with criterion B-3 Repurchase Agreements, the lending and borrowing position of each one of the trades carried out by the Institution was offset individually. The debit or credit balance of each one of the offsets is presented in assets and liabilities of the balance sheet, as part of securities and derivatives trading. l) Derivative Transactions- Options: Options are contracts that set forth that the Bank has a call option of an underlying asset at a determined price known as a exercise price on a predetermined date or period. The premium paid in the transaction is recorded in a call option and presented in the consolidated balance sheet as part of securities and derivatives trading. The premium is adjusted to the fair value of the option. Interest rate swap: This is a contract that sets forth that the two parties bind themselves to exchange a series of cash flows calculated on a notional amount over a determined period of time, denominated in the same currency, but exchanged at different interest rates. Both at the beginning and the end of the contract, neither partial nor total cash flows are exchanged on the notional amount. One party receives a fixed interest rate and the other party receives a variable rate. Index swaps: A contract that sets forth the bilateral obligation of exchanging a series of flows, during a given period of time, calculated on a notional amount referred to an index for each one of the parties, or otherwise an index for one party and an interest rate (fixed or variable) for the counterparty Future contracts: Future contracts are agreements to buy or sell an underlying asset at a predetermined amount, quality, and price in a future date. Future contracts have a standardized term, quantity, quality, place of delivery, and method of liquidation. Their price is negotiable, there is a secondary market, and margin accounts are established. The counterparty is a clearing house, therefore, there is not credit risk involved. At December 31, 2009 and 2008 the company has no current future contracts operations. Forward contracts: Forward contracts are those whereby an obligation is established to buy a financial or underlying asset in an amount, quality, and pre-established prices in the contract at a future date. Those contracts may essentially be traded in connection with the price, term, quantity, quality, collateral, place of delivery, and form of liquidation. This type of contracts does not have a secondary market and exposes the Institution to credit risks. All derivatives are recognized as assets or liabilities in the balance sheet initially at their fair value, which will apply to the agreed upon price of the transaction. Subsequently, other than those that form part of a hedging relationship, they are valued at fair value without deducting the transaction costs that might

18 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 26 be incurred in the sale or other type of disposal. That valuation effect is recognized in income of the period. Fair value hedge: This represents a hedge on the exposure of changes in fair value of recognized assets or liabilities or unrecognized guaranteed commitments, or of an identified portion of those assets, liabilities or unrecognized guaranteed commitments that is attributable to a particular risk that can affect the gain or loss of the period. The gain or loss on the valuation of the hedging instrument at fair value should be recognized in income of the period. The gain or loss on the hedged item attributable to the hedged risk should adjust the carrying value of that item and it should be recognized in income of the period. The foregoing applies even if the hedged item is valued at cost. In a fair value hedge on an interest rate risk of a portion of a portfolio comprised of financial assets or financial liabilities (and only in this type of specific hedge), the adjustment to the carrying value of the hedged item on the gain or loss recognized in income of the period is recognized in the caption of valuation adjustments for hedging financial assets, or valuation adjustments for hedging financial liabilities, as the case may be, which are presented immediately after the applicable financial assets or liabilities. Cash flow hedges: This represents a hedge on the exposure of the change in cash flows of a forecasted transaction that: (i) is attributable to a particular risk associated with a recognized asset or liability (such as the total or some of the future interest payments applicable to a credit or debt instrument at a variable interest rate), or with a highly likely event; and that (ii) it can affect income of the period. The effective hedging component recognized in stockholders equity associated with the hedged item is adjusted to equal the lower amount (in absolute terms) from between the following items: i. the accumulated gain or loss of the hedging instrument since the inception thereof; and ii. the accumulated change in fair value (present value) of expected future cash flows of the hedged item from the inception of the hedge. Any remaining gain or loss on the hedging instrument or designated component thereof (which does not constitute an effective hedge) should be recognized directly in income of the period. m) Securities loan transactions- These are transactions whereby it is agreed to transfer securities with the obligation of returning those securities or other similar securities at a determined date upon request. Financial assets other than cash are furnished in an agreed upon term against reimbursement of the same premium. That securities lending premium is recognized as income or an expense as accrued. Collateral can be furnished at the beginning of the operation or during the life of the securities lending, in connection with the changes in fair value of the collateral furnished.

19 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 27 An agreed upon price, whose value is above the value subject matter of the transaction, is stipulated in securities lending transactions. In accordance with the provisions set forth in Bulletin B-4 applicable to Interacciones Casa de Bolsa, effective April 30, 2009, a payable is recognized in repurchase transactions, which represents the obligation to restore the security of the transaction or collateral. Likewise, the premium agreed-upon is recognized as a deferred credit or charge, as the case may be. The security delivered, as well as collateral furnished are presented as restricted in accordance with the type of financial asset involved. The security received, as well as collateral received are presented as memorandum accounts. The valuation of the payable is presented in the caption of gain or loss on fair value valuation. The spread between the price received and the fair value of the security, subject matter of the transaction, or collateral received, which would exist at the time it is sold or furnished as collateral, is presented in the caption of gain or loss on trading. Acting as a lender- On the date on which the securities lending transaction is contracted, the security, subject matter of the loan transferred to the borrower, is recognized as restricted. Likewise, the agreed upon premium is initially recognized as a deferred credit and recorded in a debit clearance account or cash receipt (cash inflow), as the case may be. The accrued premium is recognized in income of the year, through the effective interest method throughout the duration of the operation. Financial assets (other than cash) received as collateral are recognized in memorandum accounts. The security, subject matter of the transaction, is maintained in the balance sheet, whereas the memorandum accounts recognized for financial assets received as collateral are cancelled when: i) the securities lending transaction reaches its maturity; ii) there is borrower noncompliance; or iii) the lender exercises the right to sell or carry out the accord and satisfaction of the financial assets received as collateral. Acting as a borrower- On the date on which the securities lending transaction is contracted, the security, subject matter of the loan received by the borrower, is recognized in memorandum accounts. Moreover, the agreed upon premium is initially recognized as a deferred credit and recorded in a debit clearance account or cash disbursement (cash outflow), as the case may be. The accrued premium is recognized in income of the year, through the effective interest method throughout the duration of the operation. Financial assets (other than cash), delivered as collateral, are recognized as restricted. The borrower should maintain the collateral furnished in its balance sheet, whereas the memorandum accounts recognized for the financial assets received by the borrower should be cancelled when: i) the securities lending transaction reaches its maturity or; ii) the borrower exercises the right to sell or carry out the accord and satisfaction of the securities, subject matter of the transaction. Prior to the effectiveness of the new provisions, a receivable or payable was recognized, as the case might be, which represented the fair value of the securities at the time of the loan, and a deferred credit / charge was recognized applicable to the value of the premium. As the lender, the securities portfolio was written off and as the borrower, the securities received were incorporated into the trading securities

20 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 28 portfolio. The gain or loss on valuation recognized prior to concluding the repurchase transaction was unrealized and could neither be capitalized nor distributed among the stockholders, until realized in cash. At December 31, 2009 and 2008 the company has no current securities lending operations. n) Accrued interest- Uncollected accrued interest on the current loan portfolio is reflected in income. This interest is included in the loan portfolio evaluation, together with the principal that generated it, to determine the estimate reserve for possible credit risks discussed in Note 4r) to the financial statements. Accrued interest is not recognized on the non-accrual portfolio. This interest is recorded at memorandum accounts, and is recognized in income when collected. o) Transfer to the non-accrual portfolio- In accordance with the terms set forth in the loan agreement, the unpaid balance is recorded as non-accrual portfolio when it is known that the borrower are declared in bankruptcy, in accordance with the Bankruptcy Act, or his amortizations have not been entirely liquidated in the terms agreed upon originally, considering the following: i) Debts consisting of single payment loans on principal and interest that are 30 or more days past due. ii) Debts referring to single payment loans on principal with periodic payments of interest that are 90 or more days past due or the payment on principal is 30 or more days past due. iii) Debts consisting of loans whose amortization of principal and interest has been stipulated in periodic partial payments, except for mortgage loans for housing that are 90 or more days past due. iv) Debts consisting of revolving loans that show two monthly billing periods or, if applicable, 60 or more days past due. v) Overdrafts in customer checking accounts will be reported as non-accrual portfolio at the time the overdraft is made. p) Reclassification to current loan portfolio - Non-accrual loans in which outstanding balances (principal and interest, among other) are paid-off or restructured or renewed loans that comply with consistent payments made are recorded back as current loan portfolio. Note 11 shows the main variations in non-accrual portfolio, and identifies restructurings, assets acquired through judicial proceedings, remissions, write-offs, reclassifications to current portfolio, as well as payments of the current portfolio. q) Other write-offs- In accordance with the provisions of the NBSC, the Entity recognizes the losses occurred during the year, without the need to apply for authorization from the NBSC to record the loss.

21 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 29 r) Loan portfolio rating and preventive reserve for possible credit risks - In conformity with the provisions of the Ministry of Finance and Public Credit and the National Banking and Securities Commission, the loan portfolio is rated based on predetermined risk parameters, and overall preventive reserves are recorded for each group rated. The preventive reserve for possible credit risks is determined based on the results of the credit portfolio rating, with amounts as of each month-end or end of period, depending on the type of loan portfolio. Note 13 to the accompanying financial statements presents the detail of the results of the rating of the portfolio, in accordance with the policy followed to create that reserve, with amounts as of December 31, 2009 and The trade portfolio is rated to the provisions of the general methodology described in Articles 112 to 123, 125, and 127, as well as Exhibits 17, 18, and 19 of the Single Circular. For purposes of disclosing in the public domain, Lending Institutions should classify the Consumer Lending and Mortgage Portfolio and present it in its financial information pursuant to levels of risk rated A, B, C, D, and E. Institutions should further present the degrees of risk rated A-1, A-2, B-1, B-2, B-3, C-1, C-2, D, and E with respect to the commercial loan portfolio. Consumer and Mortgage Portfolio The preventive reserves created for the consumer lending portfolio and mortgage portfolio which level of risk is rated A will be considered general. The preventive reserves created for the portfolios discussed above with a level of risk rated from B to E will be considered specific. Commercial Loan Portfolio The preventive reserves created for the commercial loan portfolio with levels of risk rated A-1 and A-2 will be considered general. The preventive reserves created for the portfolio discussed above with a level of risk rated B-1 and lower will be considered specific. The amount of reserves to be created derived from applying the methodology contained in exhibits 17, 18, and 19, as well as the estimation methodology of an expected loss set forth in Article 129 of the provisions referred to above will be considered general when the percentage of provisions for each loan is equal to or less than 0.99%. The remaining provisions will be classified as specific. The amount of reserves to be created derived from the use of guarantees under first loss schemes should be considered under the caption of specific provisions. The individual rating consists of evaluating borrower creditworthiness, which is determined starting with the specific independent rating of the country risk, financial risk, industry risk, and payment experience, thereby achieving the accumulated borrower rating that will be assigned as an opening rating to all the loans related to him/her. From this initial rating, each loan s further rating may vary based on borrower s personal or real guarantees. Loans which balance is lower than the equivalent in pesos of four millions investment units (UDIS), this includes aggregating all the loans to the individual borrower not exceeding such amount; are rated in compliance with exhibit 17 of the Single Circular, by using the parametric methodology. This procedure

22 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 30 consists of stratifying the total portfolio under this assumption, based on the number of delayed payment periods whether if total or partial at the rating date. Loans granted to federal entities, municipalities and decentralized agencies are rated in compliance with exhibit 18 of the Single Circular. Accordingly, the rating is the one assigned by any of the agencies authorized by the NBSC and may not be older than 24 months; otherwise they will be considered as not rated. In the event they are evaluated by only one agency or they are not rated, procedures will be carried out as set forth in exhibit 18. Loans intended to investment projects with their own source of payment will be rated in compliance exhibit 19 of the Single Circular, which establishes all the requirements that will be met by the projects to be rated under this procedure. Consumer loan portfolio is rated considering delayed periods of billing, probability of delays and, if applicable, the severity of the loss associated with the value and nature of the guarantees of such loans. Rating and determination of the related preventive reserve and its book recognition should be performed at each month end of the loan portfolio balance. Therefore, the reserve determined as of December 31, 2009 results from the rating of this loan portfolio at the same date. The methodology for rating the mortgage portfolio considers the stratification of the portfolio in accordance with payment delays, type of credit, borrowers likelihood of defaulting, or the ratio resulted of the balance of the loan over the loan guarantee. Preventive reserves are determined accordingly. Rating and determination of the related preventive reserve should be performed at each month end of the loan portfolio balance. Therefore, the reserve determined as of December 31, 2009 results from the rating of this loan portfolio at the same date. In the event that the Institution should be in the assumption of having to create to cover risks that are not provided for in the different lending portfolio rating methodologies,. Before their recognition, the following should be informed to the NBSC: 1. origin of the estimates 2. methodology for their determination 3. amount of estimates to be recognized and 4. time they should be maintained in the books For the creation of provision for holding assets acquired through judicial or out-of-court proceedings or received as an in kind in payment, provisions are created quarterly whereby potential losses in value are recognized on the time elapsed of the assets referred to above, whether personal or real, as well as collection rights and investments in securities. To conform these reserves a percentage is applied related to the asset involved, in accordance with the time elapsed from the date it was acquired through judicial proceedings or received as an in kind payment. At the time the exhibit 18 of the 20th Amending Resolution to the Single Circular becomes effective, the rating and provision method applicable to credits to states, municipalities, and their decentralized agencies was amended, in order to prevent the treatment of payables due from states, municipalities, and their

23 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 31 decentralized agencies that have a term of maturity equal or less than 180 days from its origin should have, and which are subject to short-term financing or refinancing with funds from lending institutions. s) Collection Rights- Collection rights are impaired loans for which a high likelihood of nonperformance has been determined, based on information, the most current facts and a review performed on such loans. Those amounts encompass both the principal and interest, in accordance with the terms and conditions originally agreed upon. The amount to be recognized as another receivable for collection rights is the price paid at the time of its acquisition, and no estimate should be created at that date. An evaluation is made periodically of the expected cash flows during the term of collection rights. In the event that it is determined that those expected cash flows will decrease based on current events and information, an allowance is created for uncollectibility or doubtful accounts against income of the year in the amount in which those expected cash flows are less than the carrying value maintained by the receivable to date. t) Property, furniture and equipment- Assets are recorded at their acquisition cost. Up to December 31, 2007, those assets were restated by applying the factor derived from the UDI value. Depreciation is calculated based on the value of fixed assets (historical cost for acquisitions made as of 2008, and restated value for acquisitions made up to December 31, 2007), under the straight-line method, based on the tax rates applied to the historical value and restated value, respectively. u) Goodwill and Intangible assets- Goodwill represents the difference between the net purchase price of the stock of all subsidiaries and their book value at the date of their acquisition. Effective December 31, 2004, the Company ceased to amortize goodwill and had the net book value of goodwill for impairment assessment in accordance with the provisions of Bulletin C-15 Impairment of long-lived assets and their disposition. An intangible asset is recognized at cost when acquired. Up to December 31, 2007, in accordance with the provisions of FRS B-10 discussed in note 4 d) above, that intangible asset was restated by applying UDI derived factors. The net restated value as of December 31, 2009 and 2008 does not exceed its recovery value or value in use. Intangible assets acquired as well as costs incurred in the development of intangible assets are capitalized when the associated future economic benefits are identified and there is evidence of control over such assets. Expenditures that do not meet these requirements are charged to income of the period they are incurred. Intangible assets with an undefined life are not amortized due to the impossibility of defining the termination of future economic benefits accurately. Those assets are subject to an annual evaluation for possible impairment or before if merited by circumstances. v) Evaluation of long-lived asset impairment- The value of long-lived assets are assessed in accordance with the provisions set forth in Bulletin C-15 Impairment of the value of long-lived assets and their disposal, which sets forth, among other things,

24 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 32 new rules for the calculation and recognition of impairment losses on these assets and their reversal. In order to calculate the impairment loss, the recoverable value must be determined that is defined as the higher between the net selling price of a revenue generator unit, and its value of use (wearing value), which is the present value of future net cash flows, by using an appropriate discount rate. As of December 31, 2009 and 2008, the Company shows no indications of impairment as set forth in Bulletin C-15. w) Assets acquired through judicial proceedings- Assets acquired through judicial proceedings are recognized at the lower of their cost or fair value deducted from costs and expenses strictly indispensable that are disbursed in their acquisition. At the time assets acquired through judicial proceedings are sold, the difference between the selling price and carrying value of the asset acquired through judicial proceedings, net of estimates, as well as adjustments of value, creation, and adjustment of the respective estimate, are recognized in the caption of other operating income (expenses). Assets acquired through judicial proceedings, as well as those received as in kind payment, which due to their characteristics are earmarked for use by the Bank, are recorded in the caption of the balance sheet that applies thereto according to the asset involved. Up to December 31, 2007, the impact of restatement of those assets was recognized in a clearing account as set forth in Bulletin B-10 of FRS. x) Permanent stock investments- Permanent stock investments are valued by using the equity method at the book value those investments have at year-end. y) Transactions denominated in investment units (UDIS)- Transactions carried out in UDIS are recorded when realized. Balances of UDIS denominated rights and obligations at year-end are restated in accordance with the UDI value at that date. The gain or loss generated by changes in the value of the UDI derived from positions related to revenues or expenses that form part of net interest income are recognized as interest income and expenses, respectively. Further, the difference in changes not related to net interest income is recognized in the caption of other operating income (expenses). z) Buy and sell transactions of US dollars- Banco Interacciones buys and sells US dollars at 24, 48 and 72 hour value terms. Dollars purchased or sold are recorded in assets or liabilities when the transaction is stipulated at its equivalent in Mexican pesos, considering the exchange rate in effect at that date. The foreign currency position is determined at month-end and valued at the FIX exchange rate of the last immediately foregoing business day; the exchange fluctuation is recorded in the statement of income. A contract is entered into for futures (Dollar) buy and sell transactions whereby the right to acquire or the obligation to pay the differences in Mexican pesos derived from the fluctuation of the Mexican peso against the US dollar on an amount in a foreign currency stipulated in the contract; at month end the position is valued at the exchange rate of the last day, recording the exchange fluctuation in the statement of income.

25 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 33 aa) Funding- Liabilities from deposits and interbank loans and from other agencies are recorded based on the contractual value of the obligation, and accrued interest is recognized as an interest expense. bb) Income tax, Corporate Flat Tax, and employee profit sharing, prepaid or deferred- Provisions for income tax, corporate flat tax and employee profit sharing are recorded in income of the year they are due. Deferred income tax arising from temporary differences resulting from comparing book and tax values of assets and liabilities is recognized, including the benefit of tax loss carryforwards. A deferred tax asset is recorded only when there is a high likelihood that it can be recovered. Deferred taxes are determined using enacted tax rates that are estimated will be effective on the dates temporary items shall be recovered or accrual. As of January 1 and December 31st, 2009, there is no temporary items that originate employee profit sharing in accordance with of the Financial Reporting Standard D-3 effective from January 1, 2008, because the policy of its subsidiaries Bank and Brokerage House is making the payment for an amount equivalent to one month's salary as provided in section III of Article 127 of the Federal Labor Law. Effective January 1, 2008, the Corporate Flat Tax law (IETU) repeals the Asset Tax Law. IETU is a tax that co-exists with income tax, therefore, the Company has performed projections based on reasonable, reliable assumptions properly supported, which represent Management s best estimate where it has identified that the expected trend is essentially that income tax will be paid in future years. Accordingly, only deferred income tax has been recognized. On January 1, 2008, the amendments to Financial Reporting Standard D-4 Taxes on earnings went into effect. Accordingly, the balance of the accrued effect of deferred Income Tax presented in stockholders equity as part of the gain or loss on holding nonmonetary assets in the amount of $43 was reclassified to retained earnings. Effective April 8, 2008, the amendments to circular S-23.3, application of FRS D-4 Taxes on earnings set forth that the deferred tax assets recorded as a gain or loss from application of FRS D-4 may not be considered as investments to cover technical reserves or minimum guarantee capital, and they may not be distributed as earnings. cc) Subordinated debentures outstanding - The liability for the issue of debentures represents the amount payable for the debentures issued, in accordance with the face value of the securities, less the discount or plus the premium for its placement. Interest will be payable as accrued. The amount of issue expenses, as well as the premium or discount in the placement of debentures should be amortized during the period in which debentures will be outstanding, in proportion to their maturity. Those expenses are recognized as deferred charges. The premium or discount on the placement of debentures is shown in the line item of subordinated debentures outstanding.

26 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 34 dd) Restatement of capital stock, capital reserves, and retained earnings- Up to December 31, 2007, the restatement of capital stock, capital reserves, and retained earnings is determined by applying the UDI factor, published by the Central Bank of Mexico, applicable to the date on which the contributions were made and earnings or losses were generated. This restatement represents the amount required to adjust paid-in capital, capital reserves, and retained earnings to pesos equivalent to 2007 year-end pesos. The restatement referred to above was recognized in each one of the items giving rise thereto, these items are comprised by their historical value and their related restatement as shown in Note 24e). ee) Gain or loss from holding non monetary assets of valuation of permanent investments - Up to December 31, 2007, the balance of this account represents the difference resulting from comparing the amount of the restatement of permanent investments at specific costs, against the amount resulting from applying the factor derived from the UDI value to the permanent investment at the year ended. As of January 1, 2008, the gain or loss on holding nonmonetary assets from the valuation of permanent investments in stock amounted to $794, which was applied to retained earnings as of that date. ff) Comprehensive income - The amount of comprehensive income is the result of the Entity s total performance and represents the net income as shown in the accompanying consolidated statements of changes in stockholders equity as of, December 31, 2009 and Liquid assets: As of December 31, 2009 and 2008, this caption is summarized as follows: Cash $ 12 $ 14 Bills and coins 5 5 Central Bank of Mexico (BANXICO) 3,301 3,216 Domestic and foreign Banks 1,595 1,811 Call money trading up to maximum of 3 days Remittances in transit 4 2 Foreign currency at 24 and 48 hours Purchase Sales (140) (137) Banamex reserve fund Contributions to the Defeasance Trust Fund Central Depository of Securities Others $ 5,684 $ 5,509

27 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 35 The BANXICO balance is summarized as follows: Circular telefax 36/2008 $ 3,201 $ 3,201 Time deposits 91 - Accrued interest on deposits 9 15 $ 3,301 $ 3,216 Pursuant to circular telefax 36/2008 dated August 1, 2008 issued by the Bank of Mexico, the monetary regulation deposits created in accordance with the circulars in effect up to that date are terminated. Accordingly, the pertinent credits were made on the dates referred to hereinbelow: Moreover, it sets forth the creation of a new restricted monetary deposit regulation by lending institutions through a cuenta única (master account) through the Account-Holder s Attention System of BANXICO (SIAC- BANXICO) in order to encourage healthy development of the financial system. The amount of $3,201 applied to the Institution, which was made in eight payments on August 21 and 28, September 4, 11, 18, and 25, and October 2 and 9 as of Their characteristics are those discussed below: 36/2008 Date published 1-August-08 Individual amount $3,201 Term of deposit Undefined Rate Weighted Funding rate Yield period 28 days Time deposits (Central Bank of Mexico)- As of December 31, 2009, the balance in the Central Bank of Mexico includes term deposits which maturity is January 25, 2010 in the amount of 7,002,613 US dollars, equivalent to $91 in local currency. The balance of domestic and foreign banks is summarized as follows: Currency Currency Local Foreign Local Foreign Domestic banks in US dollars $ 47 4 $ 16 1 Foreign banks in US dollars Domestic banks in local currency 896-1,033 - Certificates of deposits $ 1, $ 1, As of December 31, 2009 and 2008, the balance of bank accounts in US dollars are equivalent to 54 and 13 thousands of US dollars, respectively.

28 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 36 The Exchange rates used to value US dollars are $ for 2009 and $ for The balance of certificates of deposit as of December 31, 2008 made with Banco Compartamos, S. A., Institucion de Banca Multiple is restricted for $600 and accrued interest for $ 3 and summarized as shown bellow: CEDE CEDE CEDE Opening date 25/07/ /08/ /08/2008 Individual amount $200 $200 $200 Term of deposit 364 days 364 days 169 days Due date 24/07/ /08/ /02/2009 Rate EIIR+1.25 EIIR+1.25 EIIR+1.25 Period of returns 28 days 28 days 28 days Call money- As of December 31, 2009 and 2008, Banco Interacciones maintained one and two call money operations due in tree and two business days with BBVA Bancomer, S.A and Banco del Bajío; and BBVA Bancomer, S.A., respectively, at a rate of return of 4.10%, 8.35% and 8.10%, respectively, in the amount of $296, $300 and $120 plus interest in the amount of $96, respectively. Those transactions are documented pursuant to master contracts and counterparty transaction verification. Other liquid assets (restricted)- As of December 31, 2009, there is a transaction with Banco Ixe, S. A. de C. V. for the sale of 36 million US dollars equivalent to $470 carried out on November 25, 2009, which maturity is 58 days, carried out in reliance on the master contract of March 3, 1997 for US dollar interbank loans (call money) from 1 up to 180 days with an undefined term. Banamex reserve fund- The balance of the Reserve Fund is represented by contributions made by Interacciones Casa de Bolsa to the Reserve Fund of the Asociacion Mexicana de Intermedios Bursatiles, A. C. up to December 31, 2009; to secure the cash values of the Company's clients. Those contributions are managed by the Trustee responsible for the Funds that are in the Trust created by Interacciones Casa de Bolsa, which invests in debt securities, basically Federal Treasury Certificates (CETES). The Company may draw down proceeds from the Fund upon compliance of the terms set forth in the pertinent contract. Contributions to the Central Depository of Securities Defeasance Trust Fund- The balance of Central Depository of Securities Defeasance Trust Fund is represented by the contributions, which as of December 31, 2009, have been made by Casa de Bolsa Interacciones to Trust No. F/ , plus interest accrued at the same date to which the Company belongs. Those contributions are made to create a fund to guarantee the correct transfer and value of the securities traded between Securities Brokers. Interacciones Casa de Bolsa may draw down proceeds from the Fund upon compliance of the terms set forth in the pertinent contract.

29 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Margin accounts: As of December 31, 2009, the balance of margin accounts amounts to $280 applicable to 21 million US dollars delivered to Credit Suisse, pursuant to the swaps transactions in effect at that date. 7. Investment in securities: Trading securities- As of December 31, 2009 and 2008, trade securities are analyzed as shown below: 2009 Historical cost Valuation Total Day Governmental securities- Udibonos SP $ 66 $ 2 $ 68 9,457 Bonds MP , Capital market instruments- Stock of Mutual Funds Interfinancial Services, Ltd $ 90 $ 2 $ Historical cost Valuation Total Day Restricted: Debt instruments - Governmental securities Bonds payable to IPAB BPAS $ 10,565 $ 13 $ 10,578 Various Bonds payable to IPAB BPAT 2, , Development Bonds (BONDESD) Bonds payable to IPAB BPA ,260 Others Various Subtotal of restricted titles 13, ,247 Total of trading securities $ 13,321 $ 18 $ 13, Historical cost Valuation Total Day Capital market instruments- Mutual funds $ 3 $ - $ 3 - Interfinancial Services, Ltd $ 4 $ - $ 4

30 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 38 At December 31, 2009 and 2008, interest income, gain on valuation and securities trading, derived from trading securities are summarized as follows. Likewise, the gain on valuation and securities trading are included in the caption of gain on brokerage activities in the accompanying consolidated statements of income Interest earned $ - $ 79 Gain on valuation On securities Trading 27 (13) The base criterion for classifying trading securities considers that they are highly marketable securities, carrying out those trades so as to obtain quick gains derived from market price fluctuations in generally short-term issues (trading position). Significant transactions in 2008 Pursuant to official authorization No /2008 and No /2008 issued by the NBSC for Banks and Brokerage Firms, trading securities were reclassified to available-for-sale and held-tomaturity securities as a special book entry as of October 1, As a result of reclassifying trading securities to available-for-sale and held-to-maturity securities during the period from October 1 to December 31, 2008, a gain in the amount of $18 and a loss amounting to $(81), respectively, were no longer recognized in income, due to the gain and/or loss on valuation. The effect of securities reclassified to available-for-sale during that period was recognized in stockholders equity, and is presented in the consolidated statement of changes in stockholders equity. The reclassification of trading securities to held-to-maturity securities was based mainly on the fact that repurchase transactions can be carried out, regardless of how those securities are classified; i) debt securities have a known date of maturity and may not be susceptible of valuation; and ii) there should be no intent to obtain gains on the price differences of the share certificates that the Brokerage Firm has in position and those securities do not have a date of maturity. Available-for-sale securities- As of December 31, 2009 and 2008 are summarized as follows: Historical cost 2009 Valuation Total Term Governmental securities- Taxable IPAB Bonds (BPAS) $ 102 $ - $ 102 Various Taxable IPAB Bonds (BPAS) Various Capital market instruments- Stock of Mutual Funds Bolsa A (Mexican Securities Exchange) 240 (20) Estimate for decline in value of shares - (35) (35) Net value of the shares

31 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 39 Bank securities Geo ICA* 3-3 Ideal B Femsa UBD 6-6 Gfamsa A 3-3 Telecom A $ 995 $ 145 $ 1,140 Historical cost 2008 Valuation Total Term Governmental securities- Taxable IPAB Bonds (BPAS) $ 59 $ - $ 59 Various Taxable IPAB Bonds (BPAS) Capital market instruments- Stock of Mutual Funds Bolsa A (Mexican Securities Exchange) 240 (96) Estimate for decline in value of shares - (35) (35) 778 (3) 775 Bank securities Binter Others $ 896 $ (1) $ 895 As of December 31, 2009 and 2008, interest earned on these securities amounts to $1 and $4, respectively. The base criterion to classify available-for-sale securities, trading date value, variable-income securities, and Mutual Funds, considers those securities to be medium-term and traded on the market with the expectation of improving the selling price over time, in order to obtain a higher gain (directional positions) and marketable for liquidity hedge funds. Significant transactions in 2009 Mutual fund- As of December 31, 2009, the caption of mutual fund stock represents the value of ICAPTAL Series B shares, represented by 14,883,410 securities at a price amounting to $20,205,970 whose total value amounts to $666.

32 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 40 Bolsa A (Mexican Securities Exchange)- As of December 31, 2009, the caption of Shares of the Mexican Securities Exchange represents the value of the Series A Brokerage shares represented by 14,156,432 securities at a price of $15.47, whose value amounts to $219. As of December 31, 2009, the Institution recorded a value impairment of the shares of Bolsa A (Mexican Securities Exchange) in the amount of $(35). On December 1, 2009, the issuer of PMXCB papers carried out a public offer of the voluntary acquisition and reciprocal subscription of tradable certificates. Accordingly, the company carried out an exchange from such securities to PEMEX tradable certificates with the same financial characteristics of the original securities. Significant transactions in 2008 Mutual funds- As of December 31, 2008, the caption of mutual fund stock represents the value of ICAPTAL Series B shares, represented by 20,725,481 securities at a price amounting to $ whose total value amounts to $617. Bolsa A (Mexican Securities Exchange)- As of December 31, 2008, the caption of Shares of the Mexican Securities Exchange represents the value of the Series A Brokerage shares represented by 14,201,183 securities at a price of $10.14, whose value amounts to $144. As of December 31, 2008, the Institution recorded a value impairment of the shares of Bolsa A (Mexican Securities Exchange) in the amount of $35. The shares of the Mexican Securities Exchange were acquired as a result of the following operations: In May 2008, Banco Interacciones purchased a common, nominative Series A share with no par value shown, representative of capital stock fully subscribed for and paid of S.D. Indeval Institucion para el Deposito de Valores, S. A. de C. V. (S.D. Indeval), which was formalized through a purchase agreement entered into with Interacciones Casa de bolsa, S. A. de C. V. The total price of the operation amounted to $10. Pursuant to a restructuring process carried out by Bolsa Mexicana de Valores, S.A. de C.V. (BMV), S.D. Indeval was spun off, therefore, the share discussed above representes part of the capital stock of the spun-off company Participaciones Grupo BMV, S. A. de C. V. In May 2008, the Institution sold the Series A share to the BMV, by crediting the pertinent account in Indeval. As a consideration, the BMV delivered 1,062,226 shares of the BMV to the Institution at a value amounting to $21, resulting from the Overall Public Offering carried out, which was reorded and valued as an investment in securities. As a result of this operation, the Institution recognized $18 on the gain or loss on market value valuation. BMV In May 2008, Banco Interacciones, S.A. de C.V. purchased a common, nominative Series A share with no par value shown, representative of capital stock fully subscribed for and paid of Bolsa Mexicana de Valores, S.A. de C.V. (BMV), which was formalized through a purchase agreement entered into with Interacciones Casa de Bolsa, S. A. de C. V. The total price of the operation amounted to $48.

33 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 41 Pursuant to the initial public offering made on June 13, 2008, the minutes of the BMV stockholders meeting held on January 31, 2008 is formalized whereby the stockholders resolve to divide the stock of the BMV, through an issue and subsequent delivery of 12,538,100 shares to the stockholders with a value amounting to $16.50 for each one of the shares held by those shareholders. As a result of this operation, the Institution recognized $156 on the gain or loss on market value valuation. Held-to-maturity securities- The balance as of December 31, 2009 and 2008, is summarized as follows: 2009 Historical cost Valuation Total Maturity Date Unrestricted: Debt instruments: Governmental securities Payable Bonds to IPAB BPAT $ 19 $ - $ 19 Various Bank private securities - Banorte Various PMXCB Various Banobra , Others - Ocalfa 95U R ,993 Gmacfin Estimate for uncollectibility (144) - (144) Others (MXMACFW 07-5U-97) 1-1 9, Subtotal of unrestricted securities $ 371 $ 2 $ 373 Restricted: Debt instruments: Governmental securities: BPAT $ 5 $ - $ 5 Various Bonds payable to IPAB BPAT 7, ,981 Various Bonds payable to IPAB BPA 4, ,539 Various Certificates of deposit 1-1 Various 12, ,526 Security Exchange certificates - Trade paper 1, ,846 Various Private PEMEX 1, ,499 Various Bank tradable certificate Various Foreign debt bonds Various 3, ,917

34 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 42 Subtotal of restricted titles 16, ,443 Total Held-to-maturity securities $ 16,781 $ 35 $ 16, Historical cost Valuation Total Maturity Date Unrestricted: Debt instruments: Governmental securities: Payable Bonds to IPAB BPAT $ 2 $ - $ 2 Various 2-2 Bank private securities: Binter 5, ,546 Various Bcoppel Various Scotiab 07-94F Nov 2012 Bacomer 08-2-F Apr 2012 Banobra , ,682 Others- Ocalfa 95U R May 2026 Estimate for uncollectibility of Ocalfa 95 - (177) (177) 294 (175) 119 Gmacfin (5) 148 Jun 2012 Gmachip Sept 2009 Amx D Dec 2036 Others Various 583 (180) 403 Subtotal of unrestricted securities $ 6,262 $ (175) $ 6,087 Restricted: Debt instruments: Governmental securities: Payable Bonds to IPAB BPAT $ 16,447 $ 31 $ 16,478 Various Payable Bonds to IPAB BPA 1, ,133 Various Certificates of deposit Various Bonds of development Various Payable Bonds to IPAB BPA Various Others , ,289 Security Exchange certificates- Private 1, ,689 Private PMXCB 1,113-1,113

35 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 43 Private DEXPFCB Issued by entities of the Federal Governmental , ,078 Subtotal of restricted titles 22, ,367 Total Held-to-maturity securities $ 28,550 $ (96) $ 28,454 As of December 31, 2009, interest earned on these securities amounts to $68 The base criterion for classifying held-to-maturity securities considers that it is difficult to obtain market values for the valuation of these long-term securities, but with attractive returns and very low or no marketability. Significant transactions in 2008 CPOS OCALFA 95 U R1- As of December 31, 2008, the position of CPOS OCALFA 95 UR1 represents the direct purchase made on October 2 and 15, 2008 for a total of 151,005,812 securities, which historical value at year end amounts to $294. Those securities were acquired to be held to maturity. As of February 27, 2009, they are maintained in position. Of these securities, 119,643,697 securities were reclassified, in accordance with official authorization letter No /2008 issued by the NBSC, referred to above. The impairment allowance recorded as of December 31, 2008 in the amount of $177 was reversed in 2008, due to the analysis performed on the financial position and rating of the issuer.. Pursuant to the analysis and evaluation performed on the financial position of the issuers BOLSA A and GMACFIN, and taking into account the changes in their rating, Management has considered the determination of the impairment allowance of the value of those securities as of December 31, 2009, as observed in the summary of investments in securities. On December 1, 2009, the issuer of PMXCB papers carried out a public offer of the voluntary acquisition and reciprocal subscription of tradable certificates. Accordingly, the company carried out an exchange from securities to PEMEX securities exchange certificates with the same financial characteristics of the original securities. As of December 31, 2009 and 2008, held-to-maturity securities presented as restricted apply to those that were traded in repurchase agreements, in accordance with the amendments carried out by the NBSC, referred to in Note 4, subparagraphs b) and k). 8. Repurchase agreement transaction: Certificates of deposit and secured bonds - Pursuant to official communication number OFI/S issued by the Bank of Mexico dated December 27, 2007, Banco Interacciones was authorized to enter into repurchase transactions in its capacity as a buyer in connection with Certificates of Deposit and Secured Bonds issued by the General Bonded Warehouses on corn, wheat, sorghum, chickpeas, rice, safflower and beans, among other grains, and subject to the repurchase transaction scheme, provided that repurchase transactions are carried out in reliance on the Financing Schemes designed and/or backed by Trusts Created in

36 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 44 connection with Agriculture (FIRA). As of December 31, 2008, these repurchase transactions amount to $207, which reached their maturity in 2009, and were otherwise liquidated in advance. As of December 31, 2008, the fair value of the certificates of deposit were determined based on the market price obtained from Grupo Consultor de Mercado Agricolas, S. A. de C. V. (independent pricing services authorized by the NBSC) less the aforo percentage furnished by FIRA, which on the average amounts to 80%. In October 2008, the amending resolution to the General Provisions applicable to Brokerage Firms and to lending institutions, was published in order to change the accounting treatment given to securities, subject matter of repurchase transactions, which permitted the securities with which this transaction is carried out to continue to be accounted for in the captions of securities available-for-sale and held-tomaturity. As of December 31, 2009 and 2008, debit and credit balances in repurchase transactions are summarized as shown bellow: 2009 Collateral Accrued furnished Interest Total Days Acting as a seller: Receivables under repurchase transactions: Bond IPAB taxable (BPAS) $ 1,185 $ 1 $ 1,186 Quarterly Taxable IPAB bonds (BPAT) BREMS Development Bonds (BONDESD) Receivables under repurchase transactions (Debit balances) $ 1,516 $ 1 $ 1,517 Collateral furnished 2009 Accrued Interest Total Days Acting as a buyer: Payables under repurchase transactions: Government debt trading - Federal treasury certificates $ 1 $ - $ 1 - BREMS Development Bonds (BONDESD) Fixed Rate Development Bond 20 years taxable Fixed Rate Development Bond 10 years Taxable IPAB Bonds (BPAS) 15, ,111 - PASI Bond (BPA182) Quarterly Taxable IPAB bonds (BPAT) 10, ,398-25, ,756 - Other debt securities trading - PEMEX private tradable certificate (DEXPFCB)

37 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 45 PEMEX private tradable certificate (PMXCB) Tradable certificates issued by the Federal Government Commercial paper tradable certificates 1, ,368 - Bank Securities Bank tradable certificate 94 12, ,066 Other debt securities trading USD Private Securities Foreign Debt Bonds , ,971 - Credit balances on repurchase transactions $ 41,698 $ 29 $ 41,727 - Acting as a seller: Receivables under repurchase transactions: 2008 Collateral Accrued Furnished Interest Total Days Taxable IPAB Bonds (BPAS) $ 391 $ 1 $ 392 Other debt securities trading - Certificates of deposit and collateral bonds (General Fiscal Warehouses) Debit in repurchase transactions (Debit balances) $ 597 $ 2 $ 599 Collater al 2008 Accrued Interest Total Acting as a buyer: Payables under repurchase agreements: Government debt trading- BREMS Development Bonds (BONDESD) $ 212 $ - $ 212 Fixed Rate Development Bond 20 years taxable 3-3 Certificates of deposit Taxable IPAB Bonds (BPAS) IPASI Bonds (BPA182) 1,099-1,099 Quarterly Taxable IPAB bonds(bpat) 16, ,626 17, ,020 Other debt securities trading- PEMEX private tradable certificate (DEXPFCB) Days PEMEX private tradable certificate (PMXCB) 1,113-1,113 Tradable certificates issued by the Federal Government Private tradable certificates 1,597-1,597 Bank Securities

38 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 46 Certificates of Deposit Promissory Notes with Liquid Yield at Maturity 5, ,545 9, ,587 $ 27,576 $ 31 $ 27, Collateral Accrued Furnished Interest Total Days Collateral sold or pledged: Repurchase Agreements Credit Balance: Taxable IPAB Bonds (BPAS) $ 1,185 $ - $ 1,186 Quarterly Taxable IPAB bonds(bpat) BREMS Development Bonds - (BONDESD) Collateral sold or pledged $ 1,516 $ - $ 1, Collateral Accrued Furnished Interest Total Days Collateral sold or pledged: Repurchase Agreements Credit Balance: Taxable quarterly IPAB bonds (BPAT) Collateral sold or pledged $ 391 $ - $ Derivatives: As of December 31, 2009 and 2008, Banco Interacciones had balances in derivatives as shown below: As of December 31, 2009: Lending Borrowing Net position Forward contracts long position $ 152 $ 152 $ - Forward contracts short position Total $ 202 $ 202 $ - Designated as hedges: Forwards $ 2,044 $ 2,049 $ (5) Options Swap 947 1,240 (292) Valuation adjustment of financial assets hedging Estimate for the write-down (132) - (132) Total $ 3,415 $ 3,289 $ 127 As of December 31, 2008: Lending Borrowing Net position Forward contracts long position $ 108 $ 108 $ - Forward contracts short position (1) Total $ 132 $ 133 $ (1) Designated as hedges:

39 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 47 Forwards $ 1,675 $ 1,767 $ (92) Options Swap 955 1,425 (470) Valuation adjustment of financial assets hedging Estimate for the write-down (67) - (67) Total $ 3,137 $ 3,192 $ (55) As of December 31, 2009, in accordance with the fifth resolution discussed in Note 4b) above, those transactions are presented in the consolidated balance sheet as follows: assets in the caption of Valuation Adjustments of Financial Assets Hedging and Forwards in the amount of $556 and $(5), respectively, liabilities caption of Derivatives in the amount of $292. Forwards As of December 31, 2009, Banco Interacciones has a US dollar loan portfolio, which it considers to be exposed to an exchange rate risk. As part of the strategy to hedge foreign exchange risks, forward contracts were entered into in US dollars. At that date there is a selling position of 18 forwards with a total value amounting to $(5) As of December 31, 2008, Banco Interacciones has a US dollar loan portfolio, which it considers to be exposed to an exchange rate risk. As part of the strategy to hedge foreign exchange risks, forward contracts were entered into in US dollars. At that date there is a selling position of 13 forwards with a total value amounting to $92. There is also a compensation of positions of 5 US dollar forward selling operations with US dollar forward purchase operations that is the same type of underlying asset. Interest rate swaps Banco Interaciones considers that it is exposed to interest rate risks in the loan portfolio granted to its customers, which are grated at a fixed rate and the funding thereof is at a 28 day term EIIR rate. As of December 31, 2009, Banco Interacciones has 5 interest rate swap hedges with a total notional amount of $79 million pesos, which are presented in the caption of loan portfolio or primary position to that with which they are associated. In addition, Banco Interacciones, S. A. considers that it is exposed to an interest rate risk in the peso loan portfolio executed at a fixed rate. Accordingly, four interest rate swaps were entered into four interest rate swaps with BBVA Bancomer, S. A. and Barclays Bank Mexico, S. A. In connection with those operations as of December 31, 2009, the hedge ceased to be effective with respect to the interest rate risk associated with the loan portfolio whose risk was being hedged. In connection with interest rate swap trades agreed upon with Credit Suisse referred to in the following 2008 section, taking into consideration that the risk management strategy and purpose of the Institution s hedge is to find consistency between EIIR base productive assets and EIIR base funding,

40 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 48 both in current pesos; effective 2009, the Institution s Management made the decision to change its methodology to evaluate hedge effectiveness and ineffectiveness. The method for evaluating hedge effectiveness is the synthetic method which is 100% effective. The method for evaluating hedge ineffectiveness is the critical terms method, which consists of comparing terms and conditions of the credit transaction with the borrowing side of the swap, thereby resulting in 0% ineffectiveness As discussed in Note 6 above, as of December 31, 2009, USD $21 millions have been contributed as margin calls (collateral) for the swap trades agreed upon with Credit Suisse, in order to successfully meet the obligations contracted for those derivatives trades. The Institution determined that the hedge accounting model applicable to these hedge transactions is the fair value model, due to the same nature of the transaction, which is changing the original credit risk profile, from constant pesos at a fixed rate to a current pesos at a variable rate risk profile. The methodology used by the Institution to value the hedging instrument as of 2009 consists of calculating the expected cash flows of the swap for both portions (fixed and variable) and subsequently adjusting those values to their present value at the required valuation date. In addition to the hedge risks of the transaction, the nature of the risk would exist, if applicable, a credit risk. However, for these transactions in particular, the credit risk is assumed by the counterparty. The 5 swaps, which hedge as of December 31, 2009 is ineffective, have a fair value amounting to $ Banco Interaciones considers that it is exposed to interest rate risks in the loan portfolio granted to its customers, which are grated at a fixed rate and the funding thereof is at a 28 day term EIIR rate. As of December 31, 2008, Banco Interacciones has 4 interest rate swap hedges with a total notional amount of $12, which are presented in the caption of loan portfolio or primary position to that with which they are associated. In addition, Banco Interacciones, S. A. considers that it is exposed to an interest rate risk in the peso loan portfolio executed at a fixed rate. Accordingly, four interest rate swaps were entered into four interest rate swaps with BBVA Bancomer, S. A. and Barclays Bank Mexico, S. A. In connection with those operations as of December 31, 2008, the hedge ceased to be effective with respect to the interest rate risk associated with the loan portfolio whose risk was being hedged. Pursuant to the foregoing, Banco Interacciones considered the alternative of hedging this interest rate risk associated with its loan portfolio. In July 2008, it entered into two interest rate swap operations due June This operation was entered into with Credit Suisse as the counterparty, and it is considered an Over-The-Counter operation, that is, off the securities exchange. Credit Suisse is the counterparty of Banco Interacciones in this operation, which binds itself to pay the MX-EIIR-Banxico rate plus 227 basis points on the first day of every month during the legal effect thereof. Banco Interacciones binds itself to pay the amount resulting from increasing the annual percentage of inflationary growth every month, represented by the difference (represented in percentage) between the National Consumer Price

41 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 49 Index (NCPI) from the date of exchange less the NCPI of the immediately foregoing period of that date of exchange. The second swap on the same loan portfolio was entered into in December For the valuation of these swaps, the Institution has requested the services of an independent pricing service Valores de Mercado (VALMER), which has presented Swap (Credit Suisse 1) since July 2008, and Swap (Credit Suisse 2) since December 2008, as well as the fair values of each one of them and the fair values of the hedged items, too. The data obtained of changes in fair value obtained from both hedge derivatives and the hedged item as of December 31, 2008 show that the levels of hedge effectiveness have been maintained at permitted levels of 80.0% and 125.0%, to be considered as financial derivative instruments designated as hedges. The net position between the fair value of the item being hedged and fair value of the financial instrument designated as a hedge amount to $76. They form part of the value of the loan portfolio shown in the accompanying consolidated balance sheet. The 4 swaps, whose hedge is ineffective as of December 31, 2008, have a fair value in the amount of $1. The effect of the valuation of the primary position recorded at that date amounts to $4, which provided for at 100%. The foregoing values were determined and furnished by an independent pricing service. Pursuant to the foregoing, at the issue date of the independent auditor s opinion, the Institution s Management is in the process of defining the actions that will be taken to correct that situation. Option Transactions in At the Board of Directors Meeting of Banco Interacciones, S. A., Institucion de Banca Multiple, Grupo Financiero Interacciones held on November 3, 2009 and February 10, 2010, the stockholders agreed and ratification, respectively, to invest in a subsidiary company in the United States of America, subject to authorization by the Mexican finance authorities. The activity of the company is to trading with securities listed on markets affiliated with the IOSCO (International Organization of Securities Commission) for Mexican and US customers with an estimated investment amounting to 100 million US dollars. The stockholders further authorized an exchange rate hedge to be contracted. A US dollar European type Call Option operation was carried out on December 10, The maturity of this Call Option has been set for March 29, 2010, with an exercise price amounting to MXP/USD. The premium paid for this call option amounted to USD 4. As of December 31, 2009, the independent pricing service VALMER reported a fair value of the Call Option amounting to USD This Call Option is a derivative financial instrument designated as a forecasted transaction in cash flow hedge transactions. Moreover, the intrinsic value methodology is established for measuring hedge efficiency, therefore, as of December 31, 2009, the Institution has the value effect of the option at the time it is recorded in income, with no effect in Capital in the Comprehensive Income account. Option Transactions in At the Board of Directors Meeting of Bank Interacciones, S. A., Institucion de Banca Multiple (full service bank), Grupo Financiero Interacciones held on December 17, 2008, the stockholders resolved to invest in a subsidiary company in the United States of America, subject to authorization by the Mexican finance authorities. The purpose of that investment is to trade with securities listed on markets affiliated with the

42 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 50 IOSCO (International Organization of Securities Commission) for Mexican and US customers with an estimated investment amounting to 92 millions US dollars. The stockholders further authorized an exchange rate hedge to be contracted. A US dollar European type Call Option operation was carried out on December 23, The maturity of this Call Option has been set for December 22, 2009, with an exercise price amounting to MXP/USD. The premium paid for this call option amounted to USD 400,000. As of December 31, 2008, the independent pricing service VALMER reported a fair value of the Call Option amounting to USD 1,778, This Call Option is a derivative financial instrument designated as a forecasted transaction in cash flow hedge transactions. Moreover, the intrinsic value methodology is established for measuring hedge efficiency, therefore, as of December 31, 2008, the Institution has the value effect of the option at the time it is recorded in income, with no effect in Capital in the Comprehensive Income account. Forwards: Designated as hedges: Contract value Pesos Receivable Deliverable Net position Underlying asset As of December 31, 2009 Foreign currencies $ 2,044 $ 2,044 $ 2,049 $ (5) Contract value Pesos Receivable Deliverable Net position Underlying asset As of December 31, 2008 Foreign currencies $ 1,675 $ 1,675 $ 1,767 $ (92) Swaps: Designated as hedges: Contract value Pesos Receivable Deliverable Net position Underlying asset As of December 31, 2009 Interest rate $ 948 $ 1,503 $ 1,240 $ 263

43 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 51 Contract value Pesos Receivable Deliverable Net position Underlying asset As of December 31, 2008 Interest rate $ 600 $ 1,501 $ 1,425 $ 76 Futures and forward contracts (Forward): Trading purposes: As of December 31, 2009: Transaction Forward contracts Contract value Sale Contract value Purchases Underlying Receivable Deliverable US Dollars $ 50 $ 50 $ 152 $ 152 Net position As of December 31, 2008: Transaction Forward contracts Contract value Sale Contract value Purchases Underlying Receivable Deliverable US Dollars $ 24 $ 25 $ 108 $ 108 Net position Options: Trading purposes: Contract value USD Thousand of pesos Premium collected Valuation Net position Underlying asset As of December 31, 2009 US Dollars 100 $ 4 $ (4) $ - Contract value USD Thousand of pesos Premium collected Valuation Net position Underlying asset As of December 31, 2008 US Dollars 92 $ 6 $ 22 $ 28

44 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 52 Internal control policies and procedures for managing risks inherent to derivative financial instrument contracts are described in Note Loan portfolio: Main policies and procedures established for granting, controlling, and recovering loans- Management of the Bank is based on well defined strategies highlighted by the centralization of lending processes, portfolio diversification, better credit analysis, and strict oversight and rating model. Business areas develop and structure different proposals that are analyzed by the Credit department or, if applicable, recommended at the pertinent resolution level, outlining a proper segregation between the business originators and authorizations of transactions. Business areas constantly evaluate the financial position of each client, performing an exhaustive review and risk analysis of each credit at least once a year. If any impairment should be detected in the client s financial position, his rating is changed immediately. This way, the Bank determines the changes occurred in the risk profiles of each client. Banco Interacciones has implemented policies and procedures to maintain a healthy, diversified portfolio with prudent controlled risks. The foregoing also considers business units, currency, term, sector, etc. Limits are submitted annually to the Board of Directors for authorization. Identification of delinquent loans- Lending transactions that may have real or potential problems, due to any reason, in recovering the loan through the administrative collection scheme in amount, form, and terms agreed upon, are identified as delinquent loans and transferred to the loan recovery area. The foregoing is intended to take advantage of its experience and use specialized negotiation tactics, recovery, and intensive follow-up, thereby determining the most advisable way to act institutionally, and striving to maximize recovery of the impaired amount in the shortest possible time. The balance of delinquent loans as of December 31, 2009 and 2008 amount to $281 and $116 respectively. Summary and classification of portfolio- As of December 31, 2009 and 2008, the total loan portfolio presented in the balance sheet reconciles with the total loan portfolio shown in memorandum accounts, as shown below: Total credit portfolio on the balance sheet $ 35,834 $ 31,451 Prepaid interest collected Hedge derivative to cover loan portfolio - 82 Recorded in memorandum accounts: Opening of irrevocable loans 1, Total loan portfolio in memorandum accounts $ 37,141 $ 32,086 Also, the classification of the loan portfolio for currency type, for sector, for region and for economic groups is as follows:

45 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 53 Classification of loan portfolio by type of currency: Mexican pesos Commercial $ 11,078 $ 10,884 Financial entities Consumer 9 20 Mortgages Government 24,487 18,825 36,321 30,646 American dollars Commercial Government 381 1, ,438 UDIs Mortgages $ 37,141 $ 32,086 Classification of credit portfolio by region: % of loan portfolio Distrito Federal $ 9,564 $ 12, % 37.81% Puebla 3,963 4, % 12.93% Coahuila 4, % 2.48% Veracruz 3,254 3, % 9.96% Oaxaca 2, % 0.39% Nayarit 613 2, % 8.00% Estado de Mexico 1,803 2, % 7.96% Aguascalientes 1, % 1.56% Nuevo Leon 1, % 1.98% Michoacan 1, % 2.06% Yucatán % 1.01% Baja California Norte % 0.67% Tamaulipas % 0.41% Chiapas % 1.90% Jalisco % 1.93% Durango % 0.73% San Luis Potosi % 1.20% Colima % - Quintana Roo % 0.76% Campeche % 0.42%

46 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 54 Queretaro % 0.43% Hidalgo % 0.33% Chihuahua 80 1, % 3.80% Morelos % 0.27% Sinaloa % 0.11% Guerrero % 0.08% Tabasco % 0.54% Baja California Sur % 0.12% Zacatecas % 0.09% Tlaxcala % 0.01% Sonora % 0.05% Guanajuato % $ 37,141 $ 32, % % Classification of credit portfolio for economic groups: Concentration of loan portfolio Government of the State of Coahuila $ 4,089 $ % - Government of the State of Jalisco 2,037 2, % 6.44% PEMEX 1,286 1, % 3.53% José Alfredo Primelles Williamson % 1.57% Intra % 1.87% Grupo Mexicano de Desarrollo % 1.43% Grupo Hermes % 1.43% Farmacos % 1.14% IXE Grupo Financiero % 1.60% Grupo Financiero Interacciones % 0.64% Guagnelli % 0.73% Edemtec % 0.00% Invex % 0.37% Diavaz % 1.55% Grupo Armenta Gonzalez % 0.40% Grupo La Nacional % 1.24% Atica % - Municipio de Tepic % 0.08% Gobierno del Estado de Chihuahua 67 1, % 3.75% Grupo CDI % 0.00% Alessi % 0.18%

47 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 55 Fabricas Selectas % 0.18% Grupo Name % 0.14% Ficein-Corpofin % 0.16% Bunkers % 0.09% Arrendadora Atlas % 0.11% Proamsa % 0.06% Kamaji % 0.23% Fonticoba % 0.01% Homs % 0.04% Comerlat % 0.09% Gomez Flores % 0.03% Río Laventa % - Roma % 0.05% ABC % 0.04% Arnulfo Vazquez Cano % 0.03% Tlahuac % 0.03% Asecam % 0.04% Virgilio Guajardo % 0.02% Don Ramis % 0.03% Grupo Pavel % 0.02% Plavicom % 0.02% Vigil Silva % 0.05% Morales Guajardo % 0.01% Prendamex % 0.04% Chontkowsky % 0.01% Inversionistas Mexico % 0.01% Perc % 0.03% Suarez % Alfaro Sanchez % Camargo-Salinas % Cometra % Comisión Federal de Electricidad % Grupo Collado % Grupo HB % Hugo Castellanos % Imaginatenis % Municipio de San Mateo Atenco % Prendamex Puebla % Portfolio that does not form part of economic groups 24,666 21, % 68.13% $ 37,141 $ 32, % 100%

48 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 56 Loans to related parties - As of December 31, 2009 and 2008, loans to related parties in conformity with the provisions of Article 73 of the Lending Institutions Act amount to $613 and $875, respectively, which were approved by the Board of Directors, and were contracted using market rates, guarantees, and terms in accordance with best banking practices. 11. Non-accrual portfolio: Non-accrual portfolio by type of loan classified by terms is summarized as follows: 2009 from 366 Total from 1 to from 181 to days to 2 over Overcome 180 days 365 days Years 2 years portfolio Commercial $ 233 $ 114 $ 65 $ 18 $ 430 Consumer Mortgages $ 238 $ 117 $ 67 $ 19 $ from 366 Total from 1 to from 181 to days to 2 over Overcome 180 days 365 days Years 2 years Portfolio Commercial $ 67 $ 61 $ 18 $ 8 $ 154 Consumer Mortgages $ 70 $ 62 $ 18 $ 11 $ 161 Variances presented in the non-accrual portfolio during 2009 and 2008 are shown below: Opening balance $ 161 $ 50 Add: Reclassifications from current portfolio Less: Renewals 1 1 Total payments Partial payments Non-accrual portfolio as of December 31, 2009 and 2008 $ 441 $ 160

49 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Credits to Federal Government: The Federal Government, represented by the Ministry of Finance and Public Credit and the Mexican Bankers Association signed different programs and agreements in 1996 to support borrowers of UDIS denominated mortgages, and to provide financial support and development to micro, small, and medium business companies. The foregoing agreements consider various benefits and discounts for borrowers that will be absorbed by the Federal Government and Banco Interacciones in the proportions and limits set forth in the Circulars (Regulations) issued by the NBSC for this purpose. The benefits and discounts for borrowers, derived from applying the programs that the Bank has participated in that will be absorbed by the Federal Government, as of December 31, 2009 and 2008 are immaterial. Investment in units UDIS- The Federal Government granted financing to trusts managed by Banco Interacciones, in which it placed its loan portfolio in local currency, restructured and denominated in UDIS. With the funds obtained, the Bank acquired government securities up to the amount in pesos equivalent to the loans restructured and denominated in UDIS. The acquisition of the government securities referred to above, as well as the reclassification to the current portfolio, and preventive reserve for possible credit risks from each one of the trusts affected were recorded by the Bank, in conformity with the provisions issued by the NBSC in the proportions set forth therein. 13. Preventive reserve for possible credit risks: As of December 31, 2009 and 2008, preventive reserve for possible credit risks is analyzed as follows: 2009 General Specific Total Commercial $ % $ % $ % Consumer and personal % 1 100% Mortgages % % $ % $ % $ % 2008 General Specific Total Commercial $ % $ % $ % Consumer and personal % 3 100% Mortgages % 8 100% $ % $ % $ % The loan portfolio rating as of December 31, 2009 and 2008 was determined based on amounts of the portfolio of that same date. The summary of portfolio balances, as well as the required preventive reserve rated by level of risk is presented below:

50 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 58 Amount of the portfolio Risk level Amount of the reserve % of allowance Commercial A $ 23,451 $22,812 Up 0.99 $ 157 $ 158 B 12,386 7,636 Up C Up D Up E Up Subtotal 36,428 31, Consumer and Personal A 7 16 Up B - 1 Up C 1 1 Up D - - Up E 1 2 Up Subtotal Mortgage A Up B Up C 7 2 Up D - 2 Up E 6 - Up Subtotal Add- Exempted Portfolio Total portfolio $ 37,141 $ 32, Additional reserves in trusts UDIS 3 3 Consolidated balance of the preventive reserve $ 991 $ 686 The changes carried out in the preventive reserve for possible credit risks during 2009 and 2008 are as follows: Opening restated consolidated balance $ 686 $ 579 Add- Increases of the year- Charged to income Gain on allowance valuation in US dollars 3 3 Less-

51 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 59 Applications of the year (338) (343) Loss on valuation of the US dollar reserve (2) - Final consolidated balance $ 991 $ 686 As of December 31, 2009 and 2008, the Bank fully recorded the preventive reserve, in accordance with the portfolio rating system with amounts as of December 31 of every year, in accordance with the type of portfolio rated. The Bank is authorized to deduct the amount of overall preventive reserves for tax purposes that were created or increased in the year up to 2.5% of the annual average balance of the loan portfolio. The portion exceeding 2.5% may be deducted in subsequent years, provided that this deduction and the deduction of the year do not exceed the 2.5% referred to above. The excess that can be deducted will be restated by applying the restatement factor applicable to the period extending from the month of the immediately foregoing year-end of the year in which the excess is deducted. Restructured and renewed loans- As of December 31, 2009 and 2008, restructured loans are summarized as shown: Current Restructured credits Nonaccrual Nonaccrual Total Current Restructured credits $ 8,143 $ 37 $ 8,180 $ 4,361 $ 43 $ 4,405 Total $ 8,143 $ 37 $ 8,180 $ 4,361 $ 43 $ 4,405 During 2009 and 2008, eighty-three and twenty-five loans were restructured, respectively, thereby maintaining or increasing and, if applicable, enhancing the original terms and guarantees through their respective contracts. Rediscount of credits with recourse- The Mexican Government has created certain funds to foment the development of specific areas of agricultural, industrial, and tourist activity under the administration of the Mexican central Bank, Banco Nacional de Comercio Exterior, and Fondo de Garantia y Fomento para la Agricultura, by rediscounting loans with either own or third party resources. The accumulated amount of credits granted in 2009 and 2008 under this scheme amounts to: Pesos US dollars Pesos US dollars Commercial loans (NAFIN rediscounts) $ 5,983 1,719 $ 5,810 1,995 Commercial loans (FIRA rediscounts) 1, ,083 1,542 Commercial loans (FOVI rediscounts) Commercial loans (Bancomext rediscounts) ,111 Commercial loans (FIFOMI rediscounts) $ 7,882 $ 2,639 $ 7,688 19,648

52 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 60 Interest and commissions- As of December 31, 2009 and 2008, accrued interest and fees by type of credit are summarized as shown bellow: Interest Commissions Commercial $ 988 $ 1,163 $ 34 $ 69 Loans to financial entities Income from credit derivative Consumer Mortgage Loans to government 1,603 1, $ 2,796 $ 3,194 $ 526 $ 514 The fees for initiating loans will be recorded as a deferred revenue, which will be amortized as interest income using the straight-line method during the life of the loan. Any other type of commissions will be recognized when occurred in the line item of commissions and rates collected. As of December 31, 2009 and 2008, the fees for including the opening unamortized credits in income amount to $5 and $5, respectively, of which $3 and $3 are derived from commercial credits, respectively, $2 and $2 from credits to governmental entities, respectively. As of December 31, 2009 and 2008, the impact on the consolidated statement of income derived from the suspension of the interest accruals of the non-accrual portfolio amounts to $125 and $44, respectively. 14. Collection rights acquired: 2009 Acquisition. Collection rights apply to promissory notes that were assigned to the Bank through onerous assignment contracts of credit and litigious rights entered into on: a) November 10, 2009 with Basilisk Ocho, S. de R. L. de C. V., Basilisk Siete, S. de R. L. de C. V., and Basilisk Seis, S. de R. L. de C. V. (Assignors). The payment for that acquisition amounted to $13. b) December 22, 2009 with Basilisk Seis, S. de R. L. de C. V. and CR Capital Rapid, S. A. de C. V. (Assignors). The payment for that acquisition amounted to $12. Sale of portfolio During November and December 2009, the Institution sold the commercial portfolio acquired on November 20 and December 22, 2009 to Fernandez y Azcarraga, S. C. in the amount of $29. That portfolio had been written off 100%. The gain received on those sales amounted to $4, and forms part of the caption of other income in the accompanying consolidated statement of income Acquisition. Collection rights apply to promissory notes that were assigned to the Bank through onerous assignment contracts of credit and litigious rights entered into on:

53 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 61 a) December 1, 2008 with Basilisk Seis, S. de R. L. de C. V. (Assignor). The payment for that acquisition amounted to $2. b) December 1, 2008 with Basilisk Ocho, S. de R. L. de C. V. (Assignor). The payment for that acquisition amounted to $4. Sale of portfolio On December 31, 2008, the Institution sold the commercial portfolio acquired on December 1, 2008 to Servicios Administrativos PETRO, S. A. de C. V. in the amount of $8. That portfolio had been written off 100%. The gain received on those sales amounted to $2, and forms part of the caption of other income in the accompanying consolidated statement of income. 15. Other receivables (net): As of December 31, 2009 and 2008, the balance of other receivables is summarized as shown below: Liquidation to the Company $ 251 $ 149 Other debts Loan opening fees Loans to employees 6 17 Brokerage fees On behalf of taxes Trust rights 99 5 Guarantee deposits 8 9 Receivables from trust company fees 9 7 VAT creditable 5 4 Appraisals Estimate for uncollectibility or doubtful accounts (48) (20) $ 547 $ Assets acquired through judicial proceedings: In order to value assets acquired through judicial proceedings, the judicial adjudication or payment settlement appraisal is considered, as well as the appraisal or estimate of restated value by the appraiser, which contains the analysis of the property or market value (commercial value and immediate realization value). In addition, market estimates are considered relating to the type of asset and availability of the property (invaded, without a title deed, and cancellation of mortgage), as well as expenses or fees to be disbursed or have already been disbursed. As of December 31, 2009 and 2008 the assets acquired through judicial proceedings are shown bellow: Land $ 15 $ 11 Building 2 3

54 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 62 Commercial Lots - 20 Rights 27 - Machinery and Transportation Equipment 20 - Estimate for the write-down (23) (13) $ 41 $ Property, furniture and equipment: As of December 31, 2009 and 2008, the balance of property, furniture and equipment is summarized as shown below: Land $ 12 $ 13 Buildings Furniture and equipment Transportation equipment 9 8 Computer equipment Leasehold improvements Others Less Accumulated depreciation (250) ( 227) $ 188 $ 172 During fiscal years 2009 and 2008, the Brokerage Firm made investments in adaptations of real property acquired in a total amount of $27, of which $14 were already capitalized mainly as adaptations and improvements beginning March 2009, date on which they started to be used. During fiscal 2008, Interacciones Casa de Bolsa acquired various floors, office spaces, and parking spaces to relocate its operating personnel, maintain a working environment with access restricted only to authorized personnel, as well as maintain accessible client service attention that will be located in the office spaces acquired. The total value of acquisitions of land and buildings amounts to $ Permanent investment: The permanent investments of company subsidiaries and associates, are summarized as shown bellow: Original cost Restatement increase Restated amount Restated Amount Aseguradora Interacciones, S.A. de C.V. $ 366 $ 2 $ 368 $ 325 Mutual funds S.D. Indeval, S.A. de C.V Other investments $ 412 $ 20 $ 432 $ 380

55 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 63 Aseguradora Interacciones, S.A. de C.V. Technical reserves- Based on the actuarial job performed, the independent actuary s opinion dated March 21, 2010, states that the amount of the technical reserves of Aseguradora Interacciones it is reasonable to guarantee the obligations derived from his portfolio as of December 31, Interacciones Casa de Bolsa, S.A. de C.V. Bolsa Mexicana de Valores, S.A. de C.V.- During fiscal 2008, the BMV stated its intention to obtain the registration of the shares representative of its capital stock in the National Securities Registry (the RNV) under the NBSC, and the list of securities authorized to be listed on the BMV, in order to carry out an initial mixed public offer to sell those shares in Mexico and on the foreign market. Pursuant to the foregoing, the BMV carried out a corporate restructuring that included the acquisition of shares of Counterparty Central de Valores de Mexico, S. A. de C. V. (Central de Valores or CCVM) up to 72.78% of the shares outstanding of Central de Valores, which includes the direct purchase of those shares from CCVM shareholders, including Casa de Bolsa. Pursuant to the foregoing, CCVM stockholders approved: i) a split of the shares representative of the capital stock of Central Valores; and ii) certain amendments to the bylaws of CCVM, mainly to reflect the new structure of the capital stock. In accordance with this, Interacciones Casa de Bolsa is the holder of a Series A common, nominative share with no par value shown, representative of 0.96% of the capital stock of Central de Valores. Pursuant to the effectiveness of the stock split of CCVM, Casa de Bolsa becomes the holder of 1,000 common, nominative Series A shares with no par value shown, representative of 0.96% of the capital stock of CCVM, properly subscribed for and fully paid in. Due to the descriptions of the above paragraphs, Interacciones Casa de Bolsa entered into a stock purchase agreement with Bolsa Mexicana de Valores, S. A. de C. V. on May 19, 2008, whereby the Firm binds itself to transfer the ownership of the shares of capital of CCVM to BMV, except one with a total value amounting to $12 (receivable). As a consideration for the sale of stock, BMV delivered 576,423 shares to Interacciones Casa de Bolsa, equivalent to the receivable. Those shares issued form part of the proprietary position of the investments in the Casa de Bolsa s securities, classified as available-for-for sale securities. On May 30, 2008, Interacciones Casa de Bolsa entered into a stock purchase agreement with Banco Interacciones, S. A., Institucion de Banca Multiple, Grupo Financiero Interacciones (the Bank), whereby it is bound to transfer the ownership of one common, nominative Series A share, with no par value shown representative of fully subscribed and paid in capital stock of Bolsa Mexicana de Valores, S. A. de C. V. in a total amount of $48. This transaction generated a book loss on the sale of stock in the amount of $1, which is recognized in the caption of gain or loss on securities trading in the accompanying consolidated state of income. On May 30, 2008, Casa de Bolsa entered into a stock purchase agreement with Banco Interacciones, S. A., Institucion de Banca Multiple, Grupo Financiero Interacciones (the Bank), whereby it is bound to transfer the ownership of one common, nominative Series A share, with no par value shown representative of fully subscribed and paid in capital stock of Bolsa Mexicana de Valores, S. A. de C. V. in a total amount of $10. This transaction generated a book loss on the sale of stock in the amount of $4, which is recognized in the caption of gain or loss on securities trading in the accompanying consolidated state of income.

56 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Other assets: As of December 31, 2009 and 2008, other assets are summarized as shown below: Goodwill $ 108 $ 108 Intangible Rights Intangible assets Prepayments Other assets Other debtors Accumulated amortization (4) (11) $ 407 $ 366 On December 28, 2006, Interacciones Casa de Bolsa entered into an assignment of intangible rights of intellectual property contract with Aseguradora Interacciones, S. A. de C. V., whereby the Company acquired ownership rights of the name INTERACCIONES, through the payment of $71 ($69 historical amount). As of December 31, 2009, Interacciones Casa de Bolsa still did not have the study to evidence the fair value of the trademark. However, based on the growth and acceptance experienced by the services rendered by the Companies and Institutions that form part of the Financial Group to which it belongs, it is considered that the trademark has not suffered any impairment at that date. On December 31, 2007, the valuation of the trademark was determined pursuant to the estimation of fair market value, based on the approach of the income method, denominated Savings on Future Royalties, considering the following: 1. Future economic benefit projections 2. Optimum projection period estimation 3. Selection of the capitalization rate to discount the projected cash inflows during the optimum period. On January 2, 2007, Interacciones Casa de Bolsa entered into an agreement of intangible rights license of intellectual property with Aseguradora Interacciones, S.A. de C.V., whereby Interacciones Casa de Bolsa assigns the use and enjoyment of intangible rights of intellectual property, for an undetermined term. The consideration for the use of intangible rights will be the amount resulting from applying a percentage of 0.15% on the total monthly amount of the premiums issued by the licensee plus taxes.

57 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 65 Based on the evaluations and analyses performed by Interacciones Casa de Bolsa Management, it is estimated that the future economic benefits (cash flows) that will be generated in a maximum 16 year term will permit the Company to recover the value of the investment made therein. As of December 31, 2009 and 2008, Interacciones Casa de Bolsa obtained royalty income in the amount of $6 and $5, respectively. 20. Time deposits: As of December 31, 2009 and 2008 the balance of this account is summarized as show below: Capital Interest Total Total Money market: Promissory notes with interest at maturity $ 4,205 $ 37 $ 4,242 $ 10,989 Public in general: Notes payable at teller's window 2, ,468 4,267 Time deposits in US dollars in domestic and foreign entities Fixed Term Promissory Notes Certificates of deposit 1, ,977 1,161 4, ,494 5,502 $ 8,694 $ 42 $ 8,736 $ 16,491 The balance of promissory notes with a liquid interest at maturity is summarized as follows: 2009 Issue Series Amount Accrued interest Total Maturity Date Binter $ 1,175 $ - $ 1,175 Jan-10 Binter , ,207 Jan-10 Binter , ,403 Jan-10 Binter Jan-10 Binter Jan-10 Binter Jan-10 Binter Jan-10 Binter Feb-10 $ 4,217 $ 25 $ 4, Issue Series Amount Accrued interest Total Maturity Date Binter 8525 $ 1,300 $ 4 $ 1,304 Jan-09 Binter , ,596 Jan-09 Binter , ,109 Jan-09 Binter , ,503 Jan-09 Binter , ,357 Jan-09

58 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 66 Binter , ,538 Jan-09 Binter Jan-09 Binter Jan-09 Binter Jan-09 Binter Jan-09 Binter Jan-09 Binter Jan-09 Binter Jan-09 Binter Feb-09 Binter Feb-09 Binter Feb-09 Binter Feb-09 Binter Feb-09 Binter Feb-09 Binter Feb-09 Binter Mar-09 $ 10,939 $ 50 $ 10,989 Time deposits in US dollars in domestic entities and abroad, stated in millions of US dollars, are summarized as shown bellow: 2009 Currency Net Interest provision Term Dollars Pesos Rate Dollars Pesos From 1 to 5 days 3 $ 40 Various - $ - 3 $ 40 - $ Currency Net Interest provision Term Dollars Pesos rate Dollars Pesos From 1 to 5 days 5 $ 74 Various - $ 1 5 $ 74 - $ 1 Certificates of deposit are summarized as follows: 2009 Accrued interest Maturity Date Issue Series Amount Total Binter 9003 $ 1,000 $ 1 $ 1,001 Jan-10 Binter Ago-10

59 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 67 Binter Jan-10 Binter Jan-10 Binter Mar-10 Binter Jan-10 $ 1,974 $ 3 $ 1,977 Issue Series Amount 2008 Accrued interest Total Maturity Date Binter 8001 $ 1,000 $ 2 $ 1,002 Jan-09 Binter Feb-09 Binter Mar-09 $ 1,158 $ 3 $ 1, Bank loans and from other agencies: Call money- As of December 31, 2009 and 2008, the Bank maintained various call money operations in an amount of $970 and $507, respectively. As of December 31, 2009, due in four business days with Consultoria Internacional Banco, S. A., at a 4.52% rate in the amount of $500, and Banco Compartamos, S. A., Banco Monex at a 4.5% rate in the amount of $220, $250, respectively, and as of December 31, 2008 due in two business days with Banco Invex, S. A., Banco Multivalores, S. A. at an 8.25% return rate, and Banco Compartamos, S. A. at an 8.20% rate in an amount of $399, $43, and $65, respectively. Those transactions are documented pursuant to master contracts and counterparty transaction verification. In order to support its credit and treasury operations the Institution has entered into various call money agreements with domestic banks with short-term and long-term due dates and variable interest rates, as shown below: 2009 Term Rates 2008 Term Rates Domestic Banks local currency: Less than Less than a Banco de México. $ 1,200 One year Various $ 5,121 one year Various More than More than Nacional Financiera, S.N.C. 438 One year 3,783 one year Various Less than Various Less than a 5,345 One year 501 one year Various Banco Nacional de Comercio More than More than Exterior, S.N.C. 248 One year Various 960 one year Various Less than Less than a

60 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries One year Various 745 one year Various Banco Nacional de Obras y Less than Servicios Publicos, S.N.C. 1,884 One year Various - $ 9,950 $ 11,110 Domestic Banks-denominated foreign currency translated: Banco Nacional de Comercio Less than Less than Exterior, S.N.C. $ - One year Various $ 223 one year - More than More than 10 One year Various 16 one year Various Less than Less than Nacional Financiera, S.N.C. 21 One year Various 4 one year Various $ 31 $ 243 Loans from public trust fund- local currency: Fondo de Garantía y Fomen- $ 515 More than one year Various $ 179 More than one year Various to para la Agricultura, Gana- Less than Less than dería y Avicultura (FIRA) 434 One year Various 1,013 one year Various Fondo de Operaciones y Financiamiento Bancario para More than More than la Vivienda (FOVI) 22 One year Various 31 one year Various Fideicomiso de Fomento More than More than Minero (FIFOMI) 60 One year Various 9 one year Various Less than Less than 3 One year Various 25 one year Various $ 1,034 $ 1,257 Public trust fund loans-foreign currency denominated: Fondo de Garantía y Fomento More than More than para la Agricultura, Gana- - One year Various 2 one year Various Dería y Avicultura (FIRA) Less than Less than 2 One year Various 19 one year Various 2 21 Interest provision $ 11,051 $ 12,679 No guarantees are furnished for loans received from Nacional Financiera, S. N. C. in local and foreign currency, insofar as the foregoing refers to discounted notes.

61 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 69 Banobras (Governments- Invex 867 Trust) On February 9, 2009, Banco Interacciones entered into a loan agreement in the amount of $1,840 (which is due November 30, 2023), in order for Binter, in turn, to grant loans to Public Entities, which earmarked them to productive public investments that are attributed to the changes of attention of Banobras. The funds with which the payment of each and every one of the contract obligations will be covered are derived from exercising the original rights of the credits and promissory notes of those credits, as well as the additional contributions made by the Bank to the trust, in accordance with the provisions set forth in the trust agreement. That loan will accrue monthly interest at the EIIR rate plus 1.66 percentage points. The balance as of December 31, 2009 amounts to $1,315. On February 9, 2009, the Bank entered into an Irrevocable Management and Source of Payment Trust agreement No. 867 as Trustor and Secondary Beneficiary with Banco Nacional de Obras y Servicios Publicos, Sociedad Nacional de Credito, Institucion de Banca de Desarrollo as Primary Beneficiary, and Banco INVEX, S. A., Institucion de Banca Multiple (full service bank), INVEX Grupo Financiero, Trustee as Trustee, in order to create a payment mechanism (but not the only mechanism) for the Loan Agreement, through the revenues derived from exercising the original rights of 4 credits, which were placed through this trust. As of December 31, 2009, the balance of the trust amounts to $45 as presented in Note 15 above. Banobras (Infrastructure- Monex 258 Trust) On January 21, 2009, Banco Interacciones, S. A., Institucion de Banca Multiple, Grupo Financiero Interacciones obtained a loan in current account up to a total amount of $2,500 (which is due 240 months counted as of the first drawdown, which was made on January 30, 2009) with Banco Nacional de Obras y Servicios Publicos, SNC, in order to be allocated to various financial commitments that Binter maintained at the date of the agreement on various infrastructure projects in an investment stage, as well as to continue to finance new infrastructure and/or public service projects. That loan will accrue interest at the EIIR rate plus a surcharge determined in accordance with the provisions of the agreement. The balance as of December 31, 2009 amounts to $569. On January 23, 2009, Banco Interacciones, S. A. entered into Irrevocable Trust Agreement No. F/258 as Trustor; as Trustee: Banco Monex, S. A., Institucion de Banca Multiple, Monex Grupo Financiero, Trustee Division, as Primary Beneficiary Banco Nacional de Obras y Servicios Publicos, Sociedad Nacional de Credito, Institucion de Banca y Desarrollo, as Secondary Beneficiary. Banco Interacciones, S. A., Institucion de Banca Multiple, Grupo Financiero Interacciones, which is established as the main source of payment of the loan (but not the only source), to which the original rights of 3 loan and/or debt recognition agreements are placed, as well as the revenues derived from exercising such rights. If the funds of the management trust are insufficient to cover payment of the liability, the Bank will continue to be bound to cover the difference with its own funds, as a supplementary source of payment. As of December 31, 2009, the balance of the trust amounts to $48 as presented in Note 15 above The guarantee of FIRA and FOVI loans is the guarantee of the loan itself, insofar as those loans entail public trust funds. Mexican Central Bank - As of December 31, 2008, the liability with the Central Bank of Mexico is summarized as follows:

62 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 70 a) As of December 31, 2008, Banco de Mexico issued Circular 48/2008 and 61/2008 by offering liquidity facilities to Lending Institutions with a government-backed loan portfolio. The credits granted amounted to $3,621 with a 70% aforo amounting to $5,173, with 2, 28, and 30 day terms, at an interest rate that results from multiplying the 1.1 factor by the objective for the Interbank Interest Rate. Those operations are documented through a simple credit opening and assignment of payment outflows contract. b) As of December 31, 2009, the Central Bank of Mexico executed EIIR auctions with 17 and 18 day terms in the amounts of $500 and $700, respectively, at a 4.65% rate; and as of December 31, 2008, Mexican Central Bank executed EIIR auctions with 28 and 30 day terms amounting to $1,000, $250 and $250 at a rate of 8.30%, 8.31%, and 8.41%, respectively. Lines of credit received: As of December 31, 2009 and 2008 the Institution has the following lines of credit: Entity Amount of the line (of credit) Currency 2009 Valued in Local Currency Amount exercised Amount to be exercised NAFINSA 6,000 Mexican Pesos $ 6,000 $ 5,804 $ 196 BANCOMEXT 200 US Dollars 2,613 1,093 1,520 FIFOMI 20 US Dollars FIRA 2,500 Mexican Pesos 2, ,550 BANOBRAS 4,340 Mexican Pesos 4,340 1,884 2,456 Export Import Bank of Korea 10 US Dollars $ 15,845 $ 9,794 $ 6,051 Entity Amount of the line (of credit) Currency 2008 Valued in Local Currency Amount exercised Amount to be exercised NAFINSA $ 6,000 Mexican Pesos $ 6,000 $ 4,289 $ 1,711 BANCOMEXT 200 US Dollars 2,767 1, FIFOMI 10 US Dollars FIRA Unlimited Mexican Pesos 2,000 1, $ 10,905 $ 7,481 $ 3,425 On March 19, 2009, Export-Import Bank of Korea granted a line of revolving credit to the Bank up to a limit of 10 million US dollars (which is due March 19, 2011), as: i) an interbank loan on financing to be granted by Binter to buyers of the items eligible, in accordance with the loan agreement, for periods of less than twenty-four (24) months; ii) letter of credit; and iii) as a guarantee fund in the terms and conditions set forth in the agreement. The interest rate for this loan is the LIBOR rate.

63 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Outstanding subordinated debentures: At the General Ordinary and Extraordinary Stockholders Meeting of Banco Interacciones, S.A. held on November 6, 2008, the stockholders approved the creation of one or more collective credits charged to Binter, pursuant to one or more Issues of Preferential or Non-Preferential Subordinated Debentures that may not be converted into shares of the capital stock of the Institucion Banco (BINTER 08), up to an amount equal to $2,000. The proceeds of the placement of Subordinated Debentures of the Program will be used to strengthen the Institution s capital. At that meeting, the stockholders approved the first issue of obligations in the amount of $500. The issue of Subordinated Debentures was authorized by Banxico pursuant to official communication number S33/18643 dated November 27, 2008 and has been filed with the NBSC, in accordance with the debenture indenture signed on November 28, The issue if subordinated debentures is registered in the RNV kept by the NBSC under number , through official letter number 153/ /2008 dated November 27, 2008, as well as on the pertinent BMV (Mexican Securities Market) list. The main characteristics of the issue of the debenture BINTER 08 are described below: Ticker symbol: BINTER 08 Nominal value: $100 (one hundred pesos) Amount: $500 Number of outstanding notes 5,000,000 Total authorized amount of the program $2,000 Number of issue in reliance on the program First Term: The duration of the issue is 3640 days, equivalent to 130 periods of 28 days from November 28, 2008 until November 16, Issue date: November 28, 2008 Date of maturity: November 16, 2018 Underwriter Interacciones Casa de Bolsa, S.A. de C.V., Grupo Financiero Interacciones. Monex Casa de Bolsa, S.A. de C.V., Monex Grupo Common Representative: Financiero Interest: Effective the issue date and as long as subordinated debentures are not redeemed, annual gross interest will be generated on their nominal value, which will be calculated by the Common Representative 2 business days prior to the beginning of each interest period. Guarantee: Subordinated debentures are unsecured, therefore, neither do they have a specific guarantee, nor are they backed by the IPAB, nor by any other Mexican governmental entity. Interest rate: EIIR at 28 days (calculated 2 business days prior to the beginning of each interest period) plus 1.75% First interest payment date: December 26, 2008

64 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 72 Subordinated debentures (BINTER 07)- At the General Extraordinary Stockholders Meeting of Banco Interacciones, S.A. held on October 12, 2007, the stockholders agreed to issue of non-preferred, non-convertible to equity subordinated debenture (BINTER 07) up to the amount of $700. The proceeds of the placement of subordinated debentures will be used to strengthen the Intuition s capital and carry out the operations permitted, in accordance with the Law of Lending Institutions and other pertinent provisions. The issue of the subordinated debenture was authorized by Banxico pursuant to official communication number S33/18468 dated November 8, 2007 and has been filed with the NBSC, in accordance with the debenture indenture signed on November 16, The subordinated debenture is registered in the RNV of the NBSC under number , through official letter number 153/ /2007 dated November 14, 2007, as well as on the pertinent BMV (Mexican Securities Market) list. At the General Extraordinary Stockholders Meeting held on July 23, 2008, the stockholders approved the change in the issue of BINTER 07 subordinated debentures from Non-Preferential to Preferential. That change in the subordinated debentures is authorized for the RNV pursuant to official communication number 153/17940/2008 dated November 12, 2008, for the bond indenture pursuant to official communication number /2008 NBSC (82), and with BANXICO with official communication S33/18646 dated November 4, The main characteristics of the issue of the debenture BINTER 07 are described below: Ticker symbol: BINTER 07 Nominal value: $100 (one hundred pesos) Amount: $ 700 Number of outstanding notes 7,000,000 Term: The duration of the issue is 3640 days, equivalent to 130 periods of 28 days from November 20, 2007 until November 7, Issue date: November 20, 2007 Date of maturity: November 7, 2017 Underwriter Casa de Bolsa BBVA Bancomer, S.A. de C.V., Grupo Financiero BBVA Bancomer Monex Casa de Bolsa, S.A. de C.V., Monex Grupo Common Representative: Financiero Interest: Effective the issue date and as long as subordinated debentures are not redeemed, annual gross interest will be generated on their nominal value, which will be calculated by the Common Representative 2 business days prior to the beginning of each interest period. Guarantee: Subordinated debentures are unsecured, therefore, neither do they have a specific guarantee, nor are they backed by the IPAB, nor by any other Mexican governmental entity. Interest rate: EIIR at 28 days (calculated 2 business days prior to the beginning of each interest period) plus 1.75% First interest payment date: December 18, 2007

65 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 73 In accordance with the provisions of Article 64 of the Lending Institutions Act (LIC Spanish acronym), numeral M of the Circular 2019/95 issued by Banxico, as well as the provisions of Rule Six of the "Resolution whereby rules are issued for capitalization requirements of full-service banks and government-controlled development banks, development banks (the Capitalization Rules ) issued by the Ministry of Finance and Public Credit and published in the Official Daily Gazette on December 28, 2005; the issuer will have the right to anticipate debenture s payment, subject to the authorization of Banxico in terms of the fifth paragraph of Article 64 of the LIC, on any payment date, after the fifth year from the issue date, of the total subordinated debentures, but not less than the total thereof, at a price equal to their nominal value plus accrued interest at the date of early redemption, provided that: (a) the issuer, through the common representative, notifies its decision to exercise that right of early redemption to Holders, the NBSC, the Indeval, and the BMV in writing, through the means determined by the BMV at least 10 (ten) business days in advance of the date of intended redemption; and (b) the early redemption is carried out in the form and place of payment set forth in clause fourteen of the respective debenture indenture. As of December 31, 2009, the liability for this item amounts to $1,203 and consists of the total amount of the issue of debentures BINTER 08 amounting to $500 and BINTER 07 $700 and interest amounting to $1 and $ 2 respectively, less, the proprietary position of BINTER 08 securities in the amount of $89, net yet placed. The net balance amounts to $1,114 as of December 31, Foreign currency position: As of December 31, 2009 and March 4, 2010, issue date of the auditor s report, the US dollar exchange rates set by the Central Bank of Mexico were $ and $ , respectively. As of December 31, 2009, the Institution has the following assets and liabilities denominated in thousands of US dollars: Currency Dollars Pesos Assets- Liquid assets 99 $ 1,279 Margin account Investments in securities Loan portfolio Preventive reserve for possible credit risks (1) (14) 215 $ 2,800 Liabilities- Demand deposits 5 $ 64 Time deposits 3 40 Bank loans 2 33 Securities and derivatives Trading 155 2,024 Other liabilities ,174 Net position 49 $ 626 As of March 4, 2010, the foreign currency position of the Institution is similar to the position as of December 31, 2009.

66 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Stockholders equity: a) Capital stock - As of December 31, 2009 and 2008, the variable capital stock is comprised by Series O one share, and it may also be comprised of an additional Series L share. Fixed capital stock without retirement rights amounts to $667 ($2,251 at year-end pesos), and is represented by 236,315,829 registered common shares with a par value of $ each one, Series I, Class O. The bylaws of the Company set forth certain restrictions regarding to the maximum capital that individuals and legal entities can hold. b) Capital reserves- Legal reserve- The net income of each year is subject to the legal provision that requires appropriating 5% of that income to the legal reserve until that reserve is equal to 20% of the capital stock. The legal reserve may not be distributed to the stockholders during the existence of the Entity, except as a stock dividend. On April 30, 2009, at the General Ordinary Stockholders Meeting, the stockholders agreed to allocate 2008 related net income in the amount of $25, to replenish the capital reserve. Reserve for own stock repurchases- At the General Ordinary Stockholders Meeting held on April 30, 2009, the stockholders agreed that the maximum amount that may be allocated to the purchase of its own stock for fiscal 2009 will amount to $3. As of December 31, 2009 and 2008, the Company allocated $3 and $0.5, respectively, for repurchases of its own stock. c) Restatement of capital stock, capital reserves and retained earning- As December 31, 2009 and 2008, the capital stock, legal reserve and retained earnings are summarized as follows: Historical value Restatement Total Total Capital stock $ 667 $ 1,584 $ 2,251 $ 2,251 Premium paid on stock issued Capital reserves Retained earnings 1,149 (207) Gain or loss from valuation of securities available for sale Net income for the year $ 3,098 $ 1,398 $ 4,496 $ 3,441

67 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 75 d) Distribution of earnings- Net taxable income account (CUFIN)- As of December 31, 2009, the restated balance of the net taxable income account (CUFIN), amounts to $620. No income tax will be assessed on dividends distributed to stockholders up to the balance of such account. Any amount paid in excess should be multiplied by the factor and subject to 30% tax, which will be definite and it may be credited against income tax of the year and tax of the two following years. This balance may be restated up to the date earning are distributed buy using the NCPI. Individuals should include dividends or earnings received as part of their total income. Individuals may credit the income tax paid by the company that reimbursed dividends or earnings against the tax determined in their annual tax return, provided that they consider the amount of income tax paid by that company on the dividend or earning received as cumulative income, in addition to the related dividends. e) Capital reductions- As of December 31, 2009, the restated balance of the restated contributed capital amounted to $2,591. In the case of a capital stock reduction, the excess of that reimbursement on the restated balance should be treated as a distributed earning. 25. Institute for the Protection of Bank Saving (IPAB): In conformity with Article 21 of the Protection of Bank Savings Act, the Bank is obligated to cover the ordinary and extraordinary contributions determined by the Ministry of Finance and Public Credit at the petition of BANXICO (Central Bank of Mexico), as a preventive mechanism to protect savings. During 2008 and 2008, capital contributions to the IPAB amounted to $132 y $125, respectively. 26. Income tax: For the year ended December 31, 2009, The Company and the other subsidiaries were not subject to income tax, since prior year tax loss carryforwards were completely realized against their taxable income, except the bank which generated taxable income. Accordingly, income tax assessed on that taxable income amounted to $ Corporate flat tax (IETU): The Corporate Flat Tax (IETU Spanish acronym) of the period will be calculated by applying a 17.5% rate (By operation of a transition provision, the IETU rate will be 16.5% for 2008, 17% for 2009, and 17.5% effective 2010) to income determined based on cash flows, which results by reducing authorized deductions from the total income received for activities to which it applies. The so-called IETU credits are reduced from the above income, as provided for in currently enacted legislation. IETU credits are amounts that can be reduced from the IETU itself, which include, among other things, IETU loss carryforwards, credits on salaries, social security contributions, and deductions of some assets such as inventories and fixed assets, during the transition period as a result of the effectiveness of the IETU. The IETU is a tax that co-exists with income tax, therefore, it will be subject to the following: a) If the amount of the IETU exceeds income tax of the same period, the Company will pay IETU. Pursuant to the foregoing, the Bank will reduce income tax paid in the same period from the IETU of the period.

68 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 76 b) If the IETU is less that income tax of the same period, the Banco Interacciones will not pay IETU in the period. c) If the IETU base is negative due to deductions that exceed taxable income, there will be no IETU due. In addition, the amount of that base multiplied by the IETU rate results in an IETU credit that can be offset against income tax of the same period or, if applicable, against the IETU of subsequent periods. During the year ended December 31, 2008, only the bank was subject to IETU in the amount of $21, which was less than Income Tax of the year, Consequently, Income Tax was considered as final. Authorized IETU credits of the Brokerage firm exhausted the amount of the annual tax, therefore, the Brokerage Firm was not subject to IETU. 28. Deferred income tax: As of December 31, 2009 and 2008, the liability pursuant to the accrued effect of deferred Income Tax at those dates, amounts to $(129) and $(7), respectively. This liability is summarized as shown below: Excess of book over tax value of assets and liabilities, net $ 178 $ 492 Add- Tax loss carryforwards (Note 29) Deductible tax loss on derivative financial transaction (712) (593) (416) 7 Income tax rate at December 31, 2009 and % 28% (126) 2 Less Valuation allowance (3) (9) Deferred income tax liability $ (129) $ (7) As of December 31, 2009, the net deferred Income Tax liability of the Company and the subsidiaries that consolidate (Bank and Brokerage Firm) is generated basically by the excess of book over tax value of assets and liabilities, as well as the deductible tax loss of derivative financial trading. However, given the existing uncertainty of generating taxable income in future years in a sufficient amount that allowed for recovering this anticipated deferred Income Tax effect, Company Management decided to recognize a valuation allowance in the amount of $(3). As of December 31, 2009 the net deferred Income Tax liability resulted from the excess of the book value over the tax value of assets and liabilities, tax loss carryforwards however, given the uncertainty of the Institution s capacity to generate taxable income in future years in a sufficient amount that permits it to recover this prepaid effect of deferred income tax, the Institution's Management has decided to recognize a valuation allowance in the amount of $(9). Accordingly, that deferred tax amounts to $16 and $(23) at 2008 year-end, applicable to a deferred asset and (liability), respectively. During the year ended December 31, 2008 and 2007, deferred Income Tax charged to income of the year amounted to $82 and $27, respectively.

69 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Tax loss carryforwards: Tax loss carryforwards can be offset against taxable income generated in the following ten fiscal years. Moreover, tax losses will be restated by using the NCPI of the first month of the second half of the fiscal year in which the loss was incurred up to the last month of the first half of the fiscal year in which the tax loss carryforward is realized as of December 31, 2009, to $118, to be entitled $77 to Casa de Bolsa, $31 to Bank, $7 Grupo Financiero and $3 an others subsidiaries. Those tax loss carryforwards restated at that date are summarized as shown below: Year incurred Restated amount Year of expiration 2000 $ $ Asset tax: Effective January 1, 2008, this asset tax has been abrogated. As of December 31, 2009, asset tax due in excess of income tax not yet recovered, restated at that date, is summarized as shown below: Year incurred Restated amount Year of expiration 2007 $ Employee profit sharing: During the year ended December 31, 2009, the Management of both the Bank and Brokerage Firm determined employee profit sharing in the amount of $22. At the time the updates of Criterion D-2 Statement of income of the Resolution that amends the General Provisions applicable to Holding Companies of Financial Groups became effective on May 29, 2009, which are referred to in Note 4 b) above, Employee Profit Sharing due is included in administrative and promotional expenses. This item was previously included in the caption of Income Tax and Employee Profit Sharing due in the accompanying consolidated statement of income. 32. Earning per Share: Earnings per share as of December 31, 2009 and 2008 were determined as follows: Income for the year $ 963 $ 647 Number of average shares outstanding 236,315, ,315,829 Earnings per share $ $

70 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Related party transactions: As of December 31, 2009 and 2008, the Company has receivable balances from and payable balances to related parties, and carried out related party transactions as described below: 2009 Transactions (Historical value) Balance Debit (credit) Income Costs and Expenses Capital contributions Aseguradora Interacciones, S.A. $ - $ - $ - $ 48 $ - $ - $ - $ Transactions (Historical value) Balance Debit (credit) Income Costs and Expenses Restatement of capital and contributions for future capital increases Aseguradora Interacciones, S.A $ - $ - $ - $ 90 Banco Interacciones, S.A (38) $ - $ - $ - $ Memorandum accounts: The trustee activities of the Institution recorded in memorandum account are summarized as December 31, 2009 and 2008, as shown bellow: Trusts: Administration $ 21,011 $ 19,198 Guarantee 3,419 3,561 Investment Housing allowance 2 - Mandates $ 25,571 $ 24,304 Income received applicable to trustee activities, for the years ended December 31, 2009 and 2008, amount to $68 y $59, respectively. Pledged assets or securities that are received in safekeeping or to be administered are recorded in the account Securities held in custody or under administration. As of December 31, 2009 and 2008, this account is summarized as shown in the following page:

71 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Collections $ 9 $ (1) Traveler s checks 1 3 Securities of companies in administration 6,715 6,308 $ 6,725 $ 6, Statement of income: As of December 31, 2009 and 2008, net interest margin is summarized as shown: Interest earned - Interest earned is derived from: Liquid assets $ 236 $ 204 Investments in marketable securities Interest and premiums in repurchase transactions 1,566 2,679 Loan portfolio 2,796 3,192 Fees receivable from lending transactions Premiums receivable Others - 1 $ 5,253 $ 6,743 For the years ended December 31, 2009 and 2008, total interest earned includes interest in foreign currency of investments in securities in the amount of 35 and 3 million of US dollars, respectively. The summary of interest from the loan portfolio by type of loan is presented below: Current Non-accrual Current Non- accrual Commercial loans $ 1,100 $ 26 $ 1,231 $ 10 Loans to financial entities Consumer lending Mortgage Loans to government 1,603-1, $ 2,770 $ 26 $ 3,171 $ 23 Total loan portfolio $ 2,796 $ 3,194 For the years ended December 31, 2009 and 2008, total interest earned includes interest from foreign currency transactions from investments in securities in the amount of 34 and 3 million US dollars, respectively. Interest expenses - Interest expenses are summarized as shown in the following page:

72 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Demand deposits $ 262 $ 152 Time deposits 631 1,768 Interbank loans and loans for other agencies 561 1,614 Subordinated debentures Premiums payable 1, Other 28 1,099 $ 3,384 $ 5,048 For the years ended December 31, 2009 and 2008, total interest expenses includes interest in foreign currency and UDI s of time deposits in the amount of 5 and 1 million of US dollars, respectively. Gain or loss on brokerage activities- The gain or loss on brokerage is summarized as follows: Gain on valuation Market valuation Investments in securities $ 12 $ 19 Repurchase transactions - 4 Derivatives (4) 23 Impairment loss or effect from reversal of impairment of securities and derivatives. (23) - Valuation of foreign currency and precious metals (22) 59 Gain or loss on trading- Foreign currency and precious metal Investments in securities 23 (13) $ 82 $ 120 Other operating income (expenses)- Other operating income (expenses) are summarized as follows: Recovery of loan portfolio $ 4 $ - Reversal of the surplus of preventive estimates for lending risks 57 - Gain on sale of assets acquired through judicial proceedings 1 - Loss on valuation of assets acquired through judicial proceedings (9) - $ 53 $ - Other income- Other income is summarized as shown in the following page:

73 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Recoveries $ 177 $ 36 Others Property lease income 29 7 Loans to officers ad employees 1 2 Services of Administration - 28 Gain on early termination of the option derivative operation - 36 Trademark use royalties 5 5 $ 266 $ 165 Other expenses- Other expenses are summarized as shown below: Write-offs $ - $ 2 Others losses 27 - Allowance for decline in value Others, including restatement 3 3 $ 32 $ 307 As of December 31, 2008, the allowance for the decline in value is mainly comprised of the decline in value of the investments in instruments of OCALFA 95 U R1 securities in the amount of $177, GMACFIN securities in the amount of $6, Bolsa A securities in the amount of $35 (refer to Note 7 above), and derivative financial instruments (swaps) in the amount of $67 (refer to Note 9 above). Moreover, the change of the allowance for other receivables of the year amounted to $17 (Refer to Note 15 above). 36. Contingencies and commitments: As of December 31, 2009, the Entity and its subsidiaries have the following contingencies derived from claims and suits: Banco Interacciones - As of December 31, 2009, the Bank has contingencies derived from claims and suits filed against the Institution. Banco Interacciones s General Administrative Officers consider that the final outcomes on the suits and trials will not have a significant effect on the Bank s financial position. However, a provision has been recorded in the amount of $1 to cover any loss that could result from an unfavorable outcome on those suits and trials. Moreover, to date the Ministry of Finance and Public Credit has imposed various tax liabilities on the Institution. However, both Management and its attorneys consider that there are sufficient arguments of defense to obtain results in favor of the interests of the Institution, therefore, Management decided not to recognize any provision.

74 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 82 To date Banco Interacciones is party to two tax litigations upon which no final ruling has been handed down thereon, and approximate an overall amount of $351. a) The first litigation consists of an appeal filed to annul a tax liability assessed by the Tax Administration Services on Interacciones, since Banco Interacciones is held jointly and severally liable due to its participation as liquidator of Promotion Empresarial Interacciones, S. A. de C. V., Sociedad de Inversion de Capitales (Capital Mutual Fund) (Company in which the Brokerage Firm was a shareholder). That liquidation process started and ended in fiscal On July 12, 2007, the Second Section of the Superior Federal Court of Tax and Administrative Justice determined an outcome that annulled the act being challenged, which considered the argument of Interacciones well supported in the sense that no joint and several liability can be imputed against the Institution in its capacity as liquidator, in connection with certain tax obligations of Promocion Empresarial for presumed omitted contributions applicable to fiscal 1994, prior to when Interacciones assumed the position of liquidator. The Tax Administration Service filed an appeal for tax review against that ruling, and Banco Interacciones filed a direct appeal for constitutional relief against the part of the ruling in which some arguments were declared groundless. The Ninth Three-Judge Court for Administrative Matters of the First Circuit determined an outcome on those appeals, whereby the appeal for review filed by the authorities was declared grounded and the amparo proceedings filed by Banco Interacciones was dismissed. Consequently, the Second Section of the Superior Division of the Federal Court of Tax and Administrative Justice was ordered to issue a new resolution. On May 20, 2008, the Second Section of the Superior Division of the Federal Court of Tax and Administrative Justice declared the validity of the liability assessed on Interacciones. Consequently, a direct appeal for constitutional relief was filed on June 30, 2008, on which an outcome has been determined by the First Three-Judge Court in Administrative Matters of the First Circuit. At the session held on November 14, 2008, the Judges comprising the First Judge Administrative First Circuit Court decided to grant the appeal for constitutional relief and protection of Federal Justice to the Bank against the outcome of the Second Section of the Superior Division of the Federal Court of Tax and Administrative Justice on May 20, In compliance of the ruling cited by the First Three-Judge Administrative First Circuit Court, the Judges comprising the Second Section of the Superior Division of the Federal Court of Tax and Administrative Justice issued an outcome in which they decided to declare the ruling challenged clearly null and void. Pursuant to the foregoing, through a session held on September 6, 2009, the Judges comprising the Second Section of the Superior Division decided to declare the validity of the challenged ruling. In disagreement with the foregoing, the Bank filed a new direct appeal for constitutional relief on November 13, 2009, against the outcome of the Second Section of the Superior Division on September 10, That appeal for constitutional relief was forwarded to the First Three-Judge Administrative First Circuit Court to be studied and decided where it was assigned file number D.A. 562/2009, which was admitted on January 6, 2010.

75 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 83 At the issue date of the independent auditor s opinion, we are waiting for the matter to be forwarded to one of the Judges comprising the above Three-Judge Court in order to have the applicable draft of the ruling drawn up. b) On October 3, 2007, Binter filed an appeal for annulment with the Federal Court of Tax and Administrative Justice against the official communication whereby the motion for reconsideration filed by the Bank was dismissed, which required the bank to pay tax liabilities in its capacity as liquidator of Promocion Empresarial Interacciones, S. A. de C. V., Sociedad de Inversion de Capitales, applicable to fiscal 1997 That appeal was admitted by the Tenth Metropolitan Regional Division of the Federal Court of Tax and Administrative Justice. Through an agreement of November 5, 2007, the Tenth Metropolitan Regional Division of the Federal Court of Tax and Administrative Justice decided to dismiss various elements of evidence offered in the appeal for annulment, by considering that they had no connection with the appeal presented. Pursuant to the foregoing, on January 2, 2008, the Bank filed an appeal for reconsideration against the above agreement, which was decided through an outcome issued on June 28, 2008, whereby the Judges comprising the Tenth Metropolitan Regional Division decided to declare the appeal groundless and, therefore, confirmed the agreement dated November 5, 2007, since the evidence offered, in their opinion, were not directed toward substantiating the illegality of the dismissal due to the inadmissibility of the administrative instance of revocation. On November 13, 2009, Binter was notified of the outcome of the Tenth Metropolitan Regional Division, whereby it decided to declare the challenged ruling clearly null and void. Pursuant to the foregoing, the authorities filed a motion against the ruling dated November 13, 2009 which, at the issue date of the independent auditor s opinion, has not been forwarded to one of the Three-Judge Administrative Courts of the First Circuit to be studied and decided. The Institution s Management and its legal advisors consider that even when under no circumstances can results can be guaranteed, in connection with the issues discussed in paragraphs a) and b) above, the possibilities of success in these matters are high, since there are two matters on which a final favorable outcome was determined for 1995 and 1996, in connection with the same events and claims of the Tax Administration Services which are res judicata. c) The third litigation consists of an indirect or two-step appeal for constitutional relief filed by Interacciones against determined provisions of the Income Tax Law and its regulations, which prevent the Bank from making certain losses incurred deductible, which were incurred as a result of a sale of stock in fiscal Pursuant to a session held on June 5, 2008, the judges who comprise the Second Judge Court in Administrative Matters of the First Circuit handed determined an outcome unfavorable to the interests of the Bank. In order to evidence the legitimate interest, the Bank offered expert accounting evidence, which is being presented.

76 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 84 In February 2010, the District Judge issued an agreement in connection with the documentary evidence petitioned by the expert of the authorities demanded for the presentation of expert proof. This is why a petition in error was filed which was forward to a Three-Judge Circuit Court, which has not been admitted yet. Pursuant to the foregoing, the proceedings of the appeal for constitutional relief is suspended as long as the petition in error discussed above is decided. The Institution s Management and its legal advisors consider that due to the existence of some precedents and binding precedents, it is still possible to have a favorable outcome, in the means of defense which, if applicable, in the event that an appeal were to be filed against an eventual liquidation assessed by the tax authorities, in accordance with the provisions of subsection XVII of Article 32 of the Income Tax Law. Casa de Bolsaa) As of December 31, 2009, there are contingencies due to litigations against Interacciones Casa de Bolsa, derived from full commercial matter trials filed by Estanislao Blanco Caldevilla, Exebi, S. A. de C. V. and Maximino Salazar Nava and Silvia Mireles Nava de Salazar, who claim reimbursement of amounts deposited, pursuant to securities brokerage contracts, in which amounts had been invested up to $5, and $306, respectively. Interacciones Casa de Bolsa s attorneys can not anticipate the final outcome. However, both Company Management and its attorneys estimate that they have the necessary elements of defense to obtain a favorable outcome for Interacciones Casa de Bolsa, therefore, Interacciones Casa de Bolsa decided not to record any provision. b) As of December 31, 2009, a Federal Administrative Proceeding with the Federal Court of Federal Tax and Administrative Justice is in process filed by Interacciones Casa de Bolsa, S. A. de C. V. Grupo Financiero Interacciones to challenge various administrative resolutions contained in official communication MA/M/1985/ dated June 30, 2008 and the denial of registry (Registry of trademark applicable to the Interacciones distinctive sign) contained in official communication MA/M/1985/ dated March 14, 2008, issued by the Mexican Institute of Industrial Property. In this respect, both Company Management and its attorneys estimate that there are significant, reasonable defense elements to obtain a favorable outcome for the Company's interests, therefore, the Company decided not to record any provision. c) In March 2004, due to the review performed on the Company s statutory tax reports applicable to fiscal years 1998, 1999 and 2000 performed by the Ministry of Finance and Public Credit, the authority notified the resolutions whereby, pursuant to their criterion, Casa de Bolsa improperly included an account in the calculation of the inflationary component of credits. Guarantees established in favor of its customers derived from entering into securities lending contracts were recorded in that account. Accordingly, fines were imposed thereon and the Brokerage Firm filed a motion in May 2004 to have the resolutions taken by the Tax Authorities declared null and void. At the issue date of the external auditor's opinion on these consolidated financial statements, no outcome has been concluded by the Regional Chambers of the Federal Court of Tax and Administrative Justice, responsible for ruling on the above lawsuits. In this respect, both Casa de Bolsa Management and its lawyers estimate that there are significant, reasonable defense elements to have a final outcome in favor of the Company's interests. Consequently, Casa de Bolsa decided not to create any provision thereof. As of December 31, 2009, the Firm, in order to guarantee assessed amounts involved, has contracted the following letters of credit:

77 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 85 Letter of credit issued by Banco Interacciones on May 14, 2009, which guarantees $104, of the tax assessment No.R , determined through official communication 330-SAT (fiscal 1998). Letter of credit issued by Banco Interacciones on May 14, 2009, which guarantees $25, of the tax assessment No.R , determined through official communication 330-SAT (fiscal 1999). Letter of credit issued by Banco Interacciones on May 7, 2008, which guarantees $22, of the tax assessment No. R , pursuant to official communication 330-SAT (fiscal 2000). d) On April 25, 2005, due to the review performed on the Casa de Bolsa s statutory tax report applicable to fiscal 2001 performed by the Ministry of Finance and Public Credit, the authority notified the resolutions whereby, pursuant to their criterion, Casa de Bolsa improperly included an account in which it recorded the guarantees in the calculation of the inflationary component of credits, which were established in favor of its clients in connection with securities lending contracts entered into. Consequently, a tax liability for income tax, surcharges, and fines, as well as additional employee profit sharing were assessed on the Company for that period. On January 10, 2006, Casa de Bolsa Management filed an appeal for annulment against the resolution adopted by the tax authorities. At the issue date of the external auditor s opinion on these consolidated financial statements, that appeal is in the first instance of the evidentiary period in the Seventh Metropolitan Regional Chamber of the Federal Court of Tax and Administrative Justice. In this respect, both Casa de Bolsa Management and its attorneys estimate that there are significant, reasonable defense elements to obtain a favorable outcome for the Company's interests. Consequently, Casa de Bolsa decided not to create any provision thereof. As of December 31, 2009, in order to guarantee payment of any tax that may be payable, has contracted a letter of credit issued by Banco Interacciones on May 7, 2008, which guarantees payment of the total amount of $18 of the tax debt of tax liabilities H , H , and H , pursuant to official communication 330- SAT-VIII e) On February 16, 2006, due to the review performed on the Company s statutory tax report applicable to fiscal 2002 performed by the Ministry of Finance and Public Credit, tax authorities notified the resolutions whereby, pursuant to their criterion, Casa de Bolsa improperly included an account in which it recorded the guarantees in the calculation of the inflationary component of credits, which were established in favor of its clients in connection with securities lending contracts entered into. Consequently, a tax liability for income tax, surcharges, and fine, as well as additional employee profit sharing were assessed on the Company for this period. In this respect, Casa de Bolsa Management filed a petition for annulment against the resolution adopted by the tax authorities on May 3, At the date of this report, no outcome has been determined by the pertinent authorities. In this respect, both Casa de Bolsa Management and its attorneys estimate that there are significant, reasonable defense elements to have a favorable outcome for the Company's interests. Consequently, the Casa de Bolsa decided not to create any provision thereof. As of December 31, 2009, in order to guarantee payment of any tax that may be payable, has contracted a letter of credit issued by Banco Interacciones on May 14, 2009, which guarantees payment of the total amount of $209 thousands of pesos of the tax debt of tax liabilities H , H , and H , determined in accordance with official communication 330- SAT-VIII-3766.

78 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 86 f) On August 11, 2006, the Ministry of Finance and Public Credit performed a review of the Company s statutory tax report applicable to fiscal year Taxable income was determined in the amount of $30, which is also the base for employee profit sharing and, therefore, profit sharing determined by those authorities amounted to $3 for fiscal 2003, in substitution of the declared amount of $0. In this respect, Casa de Bolsa Management filed an appeal for annulment against the resolution adopted by the tax authorities on October 27, At the date of this report, no outcome has been determined by the pertinent authorities. In this respect, both Company Management and its attorneys estimate that there are significant, reasonable defense elements to have a favorable outcome for the Company's interests. Consequently, the Company decided not to create any provision thereof. As of December 31, 2009, in order to guarantee payment of any tax that may be payable, the Brokerage Firm has contracted a letter of credit issued by Banco Interacciones on March 9, 2009, which guarantees payment of the total amount of $4 on the tax debt, determined in accordance with official communication 330-SAT-VIII g) On June 29, 2007, the Ministry of Finance and Public Credit reviewed the statutory tax report of the Firm applicable to 2004, and determined that the Firm s tax base of employee profit sharing amounted to $40. Consequently, employee profit sharing was determined in the amount of $4 for fiscal 2004, instead of the amount of $3 declared therein. In this respect, the Firm s Management filed an appeal for annulment on September 14, 2007, against the resolution issued by the tax authorities. At the date of this report, no resolution has been issued by the pertinent authorities. In this respect, both Casa de Bolsa Management and its lawyers estimate that there are significant, reasonable defense elements to have a final outcome in favor of the Company's interests. Consequently, Casa de Bolsa decided not to create any provision therefor. As of December 31, 2009, in order to guarantee payment of any tax that may be payable, has contracted a letter of credit issued by Banco Interacciones on June 18, 2009, which guarantees payment of the total amount of $2 of the tax debt of tax liabilities H-190,078, determined in accordance with official communication 330-SAT-VIII h) On September 24, 2008, the Ministry of Finance and Public Credit reviewed the statutory tax report of the Firm applicable to 2005, and determined omitted taxes relative to Income Tax and Value Added Tax in a total amount of $1, which includes related expenses, as well as the tax base for employee profit sharing that amounted to $53. Employee profit sharing was determined in the amount of $5 for fiscal 2005, instead of the amount of $4 declared therein. In this respect, the Firm s Management filed a petition to suspend the administrative-law enforcement action on January 26, 2009, and offered to guarantee payment of the tax liability determined by the Authorities. As of December 31, 2009, the Brokerage Firm, in order to guarantee payment of any tax that may be payable, has contracted the following letters of credit: Letter of credit issued by Banco Interacciones on January 22, 2009, which guarantees $1, and Letter of credit issued by Banco Interacciones on September 10, 2009, which guarantees $2. Both letters of credit of the tax assessment No , , , , , , , , , y , determined through official communication

79 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 87 Aseguradora Interacciones- As of December 31, 2009, there are contingencies derived from claims and demands interposed in opposition to Aseguradora, both from clients and suppliers; likewise, there are lawsuits in process regarding tax matters. Based on our attorneys opinion and assessments performed, it is considered that the definitive resolution of the claims and lawsuits previously described will not have an adverse important effect in the financial position of Aseguradora. At present, there is an appeal for annulment in process against the resolution contained in official communication 330-SAT-VIII issued by the central administrator of inspections of the financial sector and various large income taxpayers on May 25, 2007, in which a tax liability was determined against the Insurance Company for Value Added Tax presumably omitted with restatements, surcharges, and fines of fiscal As of March 5, 2009, the Insurance Company maintains an appeal for annulment of the resolution issued by the Tax Administration System contained in official communication dated August 11, 2009, in which a tax liability was determined in connection with corporate Income Tax and Value Added Tax, both as a direct taxpayer, as well as Employee Profit Sharing of fiscal The fiscal authorities have the right to review the income tax returns filed by Aseguradora, from which they could derive eventual claims for law s interpretation, which could be rejected by Aseguradora. To the date of the opinion of the external auditor, we do not know if some claim exists in this matter. At the date of the financial external auditor s report, various tax audits have been opened by the Ministry of Finance and Public Credit applicable to fiscal years 2005 and Risk management (unaudited quantitative information) : QUALITATIVE INFORMATION - a) Objectives of risk exposure Given that the fundamental business of the Institution is to offer a service with high added value to clients, the Institution uses its own positions in different business units to reduce risk exposure to a minimum, so that the capital of Grupo Financiero Interacciones is not exposed. When conditions are favorable on financial markets, business units that have their own positions are protected by levels of risk exposure that impose limits on potential losses that could be generated by those positions. The purpose of risk management is to guarantee that own positions are maintained within the limits established for that purpose at all times, to guarantee Institutional financial health. Business units in this respect should seek to maintain its level of operations and risk taking within established limits to minimize the vulnerability of capital value against fluctuations of various risk factors. Moreover, the function of Integral Bank Risk Management is to identify and monitor the factors that have a bearing on the level of capitalization of the Institution, as well as maintain an optimum level in this indicator. b) Risk management s role - Grupo Financiero Interacciones, risk management role is carried out mainly through the Risk Management Committee supported by Corporate Board of Risk Management, who reports quarterly the most relevant aspects related to this function to the Board of Directors. The Board of Directors has authorized applicable risk management policies and procedures, as well as exposure limits to the various types of quantifiable risks.

80 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 88 The Risk Management Committee meets every month. Participating in these meetings are two regular Board members, the Chief Executive Officer, as well as the Corporate Directors of Risk Management and Internal Audit. At the Risk Management Committee meetings, the Corporate Board of Risk Management presents its various reports, as well as the limits exceeded in transactions, and implementation progress on new projects. c) Risk management process The Corporate Board of Risk Management identifies the types of risk in Grupo Financiero Interacciones, and consists mainly of determining: 1. The business units that generate risk exposure. 2. The types of risk those units are exposed to. 3. The risk factors that affect market value of instruments and/or transactions. The detailed analysis of the characteristics of transactions and instruments, the markets they operate in, and the regulation that transactions and counterparties with which they carry out transactions are subject to, allows for detecting the risks that business units are exposed to. Particularly for market and credit risks, a detailed analysis is made of the positions, instruments, and transactions, as well as creditworthiness that allow for identifying specific factors that could generate potential portfolio losses. Risk factors for each business unit depend on: a) Lending and borrowing transactions carried out. b) The complexity of the transactions and instruments involved. The business units that generate risk exposure are identified after vigorously analyzing of the transactions carried out by each one of the areas of Grupo Financiero Interacciones and the instruments that are traded. The business units that are subject to risk analysis are as follows: Money Market Capital Market Foreign Exchange Market Derivatives Market Foreign Exchange Market Local Currency Treasury Foreign Currency Treasury Credit d) Risk management methodologies Grupo Financiero Interacciones has developed a Risk Management Manual, which was updated throughout this year. This manual includes policies and procedures to carry out this function, as well as the main methodologies applied for each one of the types of risks.

81 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 89 I. Quantifiable Risks Discretional risks 1. Credit risk Bank The effect of counterparty noncompliance in a transaction on financial markets, mainly in derivative products, can be mitigated by replacing the instrument on the market at the time of noncompliance, therefore, the credit risk of a transaction is exactly equal to the risk of replacing the transaction on the market. This type of risk is known as an implied risk. The way to model it is through the Value at Risk (VaR). Upon replacing the transaction on the market, the potential loss is in connection with the change of the price. The main purpose of this implied risk is to furnish a guarantee or collateral to the counterparty, so that in the event of non-payment, it is sufficient to hedge the potential loss at the time of replacing the transaction on the market. However, it is recommendable to aggregate a factor to the implied risk that offsets the little liquidity that there can be on the market, since by supposing that markets are efficient, the credit risk might be underestimated. Credit risk = Current risk (MTM + Potential Risk The current risk is simply the mark to market or positive valuation of the transaction (the amount that should be paid by the counterparty), and the potential risk is a Value at Risk (VaR). Moreover, the expected loss associated with a counterparty occurs based on 3 variables. The amount of the counterparty s risk exposure The likelihood of nonperformance or non-payment The potential recovery of the guarantees agreed upon at the beginning of the transaction Pursuant to the foregoing, both the expected and unexpected loss can be estimated assuming that the transaction can or can not fall into nonperformance. Brokerage Firm Credit risk is defined as the potential loss when a counterparty fails to pay in transactions carried out by Companies. This type of risk is managed through counterparty analysis, as well as, the likelihood of nonperformance associated with the ratings of each one of the financial instruments. 2. Liquidity risk Liquidity risk is defined as the potential loss due to the impossibility or difficulty of renewing liabilities in normal conditions for the Institution, or due to advanced or forced sale of assets at unusual discounts. Liquidity risk is managed by incorporating aspects related to analyzing gaps for open positions that form part of the Company's balance sheet. As part of risk control strategy, the CBoRM performs a monthly GAP report of interest and maturity rates. Moreover, methodologies have been developed that allow for quantifying liquidity risk for cases of advance or forced sales, or renewal of liabilities in abnormal conditions.

82 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 90 For quantifying the potential loss generated by the advanced sale of assets, a function is defined that relates the loss of asset value with the amount of assets offered for sale. Accordingly, a potential loss on assets to be liquidated is determined starting with the depreciation factor calculated, based on distinct liquidity requirement scenarios. This methodology considers all assets presented in the balance sheet. For the potential loss derived from the renewal of liabilities in unusual conditions, liabilities with a maturity of less than one month are selected and their interest rate levels are determined. A surcharge will be applied thereto to obtain the additional charge for the renewal of those liabilities in unfavorable conditions. 3. Market risk Market risk is defined as the underlying potential for risk factors changes on the valuation or expected results of operations, such as interest rates, exchange rates, price indexes, among others. Market risk on positions in the Institution s financial instruments is measured by using the Value at Risk methodology (VaR), whose indicator is defined as the maximum expected loss in a given time span with a certain level of confidence. The VaR is directly related to the volatility in portfolio value, which is affected by underlying changes in the factors on the value of positions that comprise the portfolio. The VaR summarizes the expected loss on a target time span within a range of confidence.. The most significant characteristics of the market risk model are: Based on statistical methods that approximate the effect of changes in risk factors on the market value of assets and liabilities Adhered to those used in the financial services industry with the necessary adaptations to Grupo Financiero Interacciones Evaluated periodically by the CBoRM. In order to measure market risk, the CBoRM uses the Integral Risk Management System (IRMS) to calculate daily Value at Risk (VaR). Banco Interacciones estimates the risk value by considering a 95% confidence level for a one-day span. This is interpreted as the potential loss the position maintains in one of every twenty days of operation. To supplement market risk methodology, sensitivity tests are used that simulate variations in risk factors that affect the value of positions. In turn, back testing is performed to verify the validity of the model, by comparing the results generated by the model with the results actually observed. Additionally, the model efficiency test is performed as part of the ongoing improvement process to provide the estimates of the model used with statistical soundness. Market risk methodologies are applied to the Money Desk position, Money Exchange Firms, Capital Markets, as well as the Bank s own position in financial instruments (securities), regardless of how they are classified (Trading, Available-for-sale, and Held-to-maturity).

83 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 91 Non discretionary risks 1. Operating Risk. Operating risk is defined as a potential loss caused by: failures or deficiencies in internal controls, errors in the procedure and storage of operations, data transmission, as well as adverse administrative and judicial resolutions, frauds, and theft. The process for operating risk management consists of the following stages: 1. Identification: Identification consists of gathering the information from the organization through a wide array of inputs existing or delivered at the request of the UAIR to identify and document the processes that describe the business of Grupo Financiero Interacciones, as well as the implied risks therein. During this stage, surveys and interviews are conducted and a risk identification report is drawn up to identify and document the processes and activities of Grupo Financiero Interacciones, the responsible persons thereof (to define duties and levels of authorization), and implied risks therein. Moreover, a first identification is made of the internal controls that the Institution has for each one of the risks. This process involves each one of the areas that describe Grupo Financiero Interacciones business, including the areas that sep, safeguard, and give maintenance and control of files, as well as the supervision and evaluation of the service providers who are in charge of the settlement of operations. 2. Qualitative Analysis: This consists of performing a systematic analysis of operating risks, their causes and consequences to carry out the analysis of the potential impact of the operating risk. Once the processes, responsible persons, and implied risks are identified, the pertinent data continues to be recorded in a qualitative database where risks are classified in accordance with: o Type: Operative, Technological, Legal, and Reputational (Creditworthiness). o Causes and consequences. o Taxonomy: Persons, Processes, Systems, and External. o Events of loss: Rating given by Basilea II. o Controls: preventive and corrective. o Qualitative risk maps: Rating of frequency and Severity in the following ranges: Qualitative Very High High Medium Low Very low Code MA A M B MB 3. Quantitative Analysis: Losses caused by the operative risk are estimated.

84 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 92 In accordance with the foregoing steps, events are assessed, that is, the loss is estimated of each event for each business unit and the bank accounts affected. This leads to the estimate of levels of tolerance, whose calculation methodology is presented in exhibit A. The risks in the heat maps are recorded in accordance with the following tables: Frequency Low Medium High A B C D E F G H I J K L Code every 10 years every 5 years semi-annual annual semester quarterly bimonthly 1 month 1 fifteen day period 1 weekly 1 every other day daily Low Medium High Severity Code 0 to 30,000 A 30,001 to 60,000 B 60,001 to 90,000 C 90,001 to 120,000 D 120,001 to 150,000 E 150,001 to 300,000 F 300,001 to 500,000 G 500,001 to 800,000 H 800,001 to 1,500,000 I 1,500,001 to 3,000,000 J 3,000,001 to 5,000,000 K 5,000,001 to 10,000,000 L 10,000,00 to 17,000,000 M 17,000,001 to 30,000,000 N 30,000, 001 < O

85 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries Administration: Possible actions are analyzed to mitigate the risks and their cost benefit analysis. Moreover, these actions are implemented and they are followed up on. In accordance with the analyses previously performed, risks are determined and monitored in accordance with the quantitative risk map. Risks at a high level of frequency and severity are reviewed and their preventive and corrective controls are evaluated. In the event that any deficient control is found, the change is proposed and a cost-benefit analysis is performed on those controls that imply re-engineering or a high cost. Then the controls referred to above are followed up on. 5. Monitoring: Major impact risks are overseen permanently in the Institution. Moreover, mitigation strategies are determined in coordination with the affected areas. 6. Disclosure: The advances, results, and impacts of operating risks are reported to the Chief Executive Officer of Banco Interacciones, Board of Directors, Risk Management Committee, and the pertinent authorities and the areas involved. Risk Materialization Report: The materialization of operating risks is estimated in accordance with the systematic recording made in the accounting in the OTHER EXPENSES account. This criterion was taken based on the analysis of the same account, since the shortages at branches, frauds, claims, and other losses are recorded that would be assigned to events of loss such as Internal Fraud, External Fraud, Customers, Products and Business Practices, and Natural Disasters and other Events. Accordingly, based on this criterion, there is a close approximation to the operating events that occur at the Institution. OPERATING RISK Business areas provide: Processes Policies Operating risks Controls Non-Discretional Risks Carries Out: Identification Qualitative Analysis Quantitative Analysis Reporting Reports to: Risk Committee General Administrative Offices Board of Directors Review and validation

86 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 94 a Identification Qualitative Analysis Quantitative Analysis Administration Monitoring Questionnaires Interviews Identification of Macro processes Identification of Risks Report of Risks Accounting Accounts Analysis vs. Events of Losses Business Line Analysis vs. Business Units Internal Valuation Of events Levels of tolerance Quantitative Risk Maps Historical database (Other Expenses Control Analysis. Evaluation Of Controls. Identification of Cost benefit Risks revision of Major Impact. Risks revision and Changes in quantitative Risk maps Layout of macro Processes With Identification Risk Identifications Analysis), account Analysis, policies, Loss event, Classification and Identifiction Factors and Consideration of Residual risk Controls Accounting accounts. Identification and Systematic Register Documentation of Of the risks Trough Consequences The Sungard System. Risks of Classification Adaptation Of historical By: Loss event, Database With Type of risk, Taxonomy System Qualitative Risk Statistic analysis to Maps Obtain The operating VaR. 2. Legal Risk The legal risk is defined as the potential loss due to the nonperformance of applicable legal and administrative provisions, the issue of unfavorable administrative and legal resolutions, as well as the application of sanctions in connection with the operations carried out by the Institution. The process for Legal Risk management consists of the following stages: 1. Recording of database: At the time of receiving any official communication, fine, administrative penalty, litigations. Every area involved will be responsible for recording the cause, event, date, official communication no., line of business that caused it, the event of loss, type of loss, cost, and book entry in the database of the main fields stated. The areas involved are: Audit, Legal, and Risks. 2. Identification: of the Legal Risk and existing classification in Grupo Financiero Interacciones which can be: Acts having legal effects in which Grupo Financiero Interacciones participates as a legal entity that can result in an adverse ruling. Administrative sanctions that it can be subject to in view of the nonperformance of the regulations in effect. The legal area is responsible for its processes, policies, methodologies, implementation, and controls of the activities that it carries out. The UAIR will be responsible for gathering evidence of the implementation of:

87 Grupo Financiero Interacciones, S.A. de C.V. and Subsidiaries 95 Policies and procedures so that the legal validity is analyzed prior to carrying out acts that have legal consequences, and take steps to legally implement those acts, including formalization of guarantees to avoid defects in carrying out operations. 3. Qualitative Analysis: through information furnished by the supplying areas, their causes and consequences are analyzed with those that will be inputted into a historical databases. Moreover, events of loss and lines of business generated will be classified in accordance with the nature of the events. 4. Quantitative Analysis: The frequency and severity of administrative sanctions due to nonperformance of regulations are evaluated, and the litigations in which the institution participates, as well as the economic impact that such nonperformance will have on Grupo Financiero Interacciones. 5. Administration: Possible actions are analyzed to mitigate the risks that reflect their cost benefit analysis. 6. Monitoring: Major impact risks are permanently overseen in coordination with the areas involved. 7. Disclosure: Disclosures are reported to the Chief Executive Officer of Banco Interacciones, Board of Directors, Risk Committee, pertinent Authorities, and areas involved. 3. Technological Risk Technological risk is defined as the potential loss on damages, interruption, alteration or failures derived from the use or dependence upon hardware, software, systems, applications, networks, and any other information distribution channel in the presentation of banking services with the institution s customers.